DA Davidson Boosts Dycom Industries (NYSE:DY) Price Target to $265.00

Dycom Industries (NYSE:DY - Free Report) had its price target raised by DA Davidson from $220.00 to $265.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a buy rating on the construction company's stock.

Several other brokerages have also issued reports on DY. JPMorgan Chase & Co. lifted their price target on shares of Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. UBS Group boosted their target price on shares of Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. B. Riley upped their price target on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Raymond James raised their price objective on Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a report on Thursday, May 22nd. Finally, KeyCorp reduced their price objective on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $241.25.

Dycom Industries Price Performance

DY traded down $0.35 during trading on Friday, hitting $227.41. 328,376 shares of the stock traded hands, compared to its average volume of 415,173. The business has a 50 day moving average price of $172.59 and a 200 day moving average price of $175.78. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. Dycom Industries has a twelve month low of $131.37 and a twelve month high of $239.00. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 1.29 and a beta of 1.27.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.47. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. Dycom Industries's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.12 EPS. Equities research analysts forecast that Dycom Industries will post 7.13 earnings per share for the current fiscal year.

Dycom Industries declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in shares of Dycom Industries in the 1st quarter valued at $366,000. Intech Investment Management LLC boosted its position in Dycom Industries by 163.4% during the first quarter. Intech Investment Management LLC now owns 35,257 shares of the construction company's stock valued at $5,371,000 after acquiring an additional 21,871 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Dycom Industries by 7.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company's stock worth $10,622,000 after acquiring an additional 4,985 shares during the period. Optimize Financial Inc bought a new position in shares of Dycom Industries in the 1st quarter worth about $219,000. Finally, United Services Automobile Association bought a new position in shares of Dycom Industries in the 1st quarter worth about $299,000. 98.33% of the stock is owned by institutional investors and hedge funds.

About Dycom Industries

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.