Raymond James Raises Dycom Industries (NYSE:DY) Price Target to $195.00

Dycom Industries (NYSE:DY) had its price target hoisted by Raymond James from $143.00 to $195.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a strong-buy rating on the construction company’s stock.

DY has been the subject of a number of other research reports. B. Riley upgraded Dycom Industries from a neutral rating to a buy rating and upped their price target for the stock from $101.00 to $172.00 in a research report on Friday, March 8th. KeyCorp raised their target price on shares of Dycom Industries from $169.00 to $179.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Wells Fargo & Company upped their price target on shares of Dycom Industries from $165.00 to $175.00 and gave the stock an overweight rating in a research report on Monday, May 20th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $175.86.

Dycom Industries Price Performance

NYSE DY opened at $179.73 on Thursday. The company has a 50-day moving average price of $144.46 and a 200-day moving average price of $123.63. Dycom Industries has a 52 week low of $78.42 and a 52 week high of $181.60. The company has a quick ratio of 2.85, a current ratio of 3.17 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $5.23 billion, a P/E ratio of 23.16, a PEG ratio of 2.32 and a beta of 1.37.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, May 22nd. The construction company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.73. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company earned $1.73 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. Equities research analysts anticipate that Dycom Industries will post 7.14 earnings per share for the current year.

Insider Buying and Selling at Dycom Industries

In other news, VP Jason T. Lawson sold 220 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the transaction, the vice president now owns 7,793 shares of the company’s stock, valued at $1,093,124.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.28% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

Several large investors have recently made changes to their positions in the company. Peconic Partners LLC increased its position in Dycom Industries by 0.7% in the fourth quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock worth $375,847,000 after purchasing an additional 21,635 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Dycom Industries by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock valued at $458,728,000 after acquiring an additional 12,395 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Dycom Industries by 1.5% in the fourth 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 in the last quarter. FMR LLC increased its stake in Dycom Industries by 3.0% during the third 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Dycom Industries by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 418,969 shares of the construction company’s stock valued at $48,219,000 after purchasing an additional 18,063 shares during the period. 98.33% of the stock is 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.