Wells Fargo & Company Boosts Dycom Industries (NYSE:DY) Price Target to $175.00

Dycom Industries (NYSE:DY) had its target price raised by Wells Fargo & Company from $165.00 to $175.00 in a report published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the construction company’s stock.

A number of other research analysts have also recently weighed in on the company. KeyCorp raised their price target on Dycom Industries from $158.00 to $169.00 and gave the company an overweight rating in a research report on Monday, May 13th. B. Riley upgraded Dycom Industries from a neutral rating to a buy rating and raised their price target for the company from $101.00 to $172.00 in a research report on Friday, March 8th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Dycom Industries has a consensus rating of Buy and an average price target of $147.17.

Dycom Industries Price Performance

Shares of NYSE DY opened at $166.93 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.06 and a quick ratio of 2.85. The stock has a fifty day moving average price of $142.97 and a 200 day moving average price of $122.58. Dycom Industries has a 1-year low of $78.42 and a 1-year high of $170.39. The company has a market cap of $4.86 billion, a PE ratio of 22.65, a P/E/G ratio of 1.99 and a beta of 1.37.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, February 28th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.15). The business had revenue of $952.50 million during the quarter, compared to analysts’ expectations of $968.87 million. Dycom Industries had a return on equity of 22.06% and a net margin of 5.24%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. Sell-side analysts forecast that Dycom Industries will post 7.14 EPS for the current year.

Insider Activity at Dycom Industries

In other Dycom Industries news, VP Jason T. Lawson sold 220 shares of Dycom Industries stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $140.27, for a total transaction of $30,859.40. Following the sale, the vice president now directly owns 7,793 shares in the company, valued at approximately $1,093,124.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.28% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors have recently made changes to their positions in the company. Peconic Partners LLC boosted its position in Dycom Industries by 0.7% during the 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after purchasing an additional 21,635 shares during the period. Vanguard Group Inc. boosted its position in Dycom Industries by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock valued at $458,728,000 after purchasing an additional 12,395 shares during the period. Dimensional Fund Advisors LP boosted its position in Dycom Industries by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,008,912 shares of the construction company’s stock worth $116,117,000 after acquiring an additional 15,389 shares during the period. FMR LLC boosted its position in Dycom Industries by 3.0% during the 3rd quarter. FMR LLC now owns 674,834 shares of the construction company’s stock worth $60,060,000 after acquiring an additional 19,842 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Dycom Industries by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 418,969 shares of the construction company’s stock worth $48,219,000 after acquiring an additional 18,063 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.