Dycom Industries (NYSE:DY) Stock Price Expected to Rise, DA Davidson Analyst Says

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

Several other equities analysts have also recently issued reports on the company. Raymond James boosted their price target on Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 22nd. UBS Group boosted their price target on Dycom Industries from $234.00 to $258.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price target on Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Wells Fargo & Company boosted their price target on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, B. Riley lifted their price objective on Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a report on Friday. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Dycom Industries has an average rating of "Buy" and an average target price of $241.25.

Dycom Industries Stock Down 0.3%

Dycom Industries stock traded down $0.77 during midday trading on Friday, reaching $224.43. The company's stock had a trading volume of 16,584 shares, compared to its average volume of 413,676. Dycom Industries has a fifty-two week low of $131.37 and a fifty-two week high of $233.72. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The company has a market cap of $6.46 billion, a P/E ratio of 29.51, a P/E/G ratio of 1.29 and a beta of 1.27. The business has a 50-day simple moving average of $169.80 and a 200-day simple moving average of $175.05.

Dycom Industries (NYSE:DY - Get Free Report) last posted its 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 business had revenue of $1.26 billion for 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%. The business's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.12 earnings per share. On average, research analysts expect that Dycom Industries will post 7.13 earnings per share for the current fiscal year.

Dycom Industries announced that its Board of Directors has approved a stock buyback program on Wednesday, February 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 3.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Dycom Industries

Several institutional investors have recently modified their holdings of the company. Intech Investment Management LLC boosted its stake in shares of Dycom Industries by 163.4% during the 1st quarter. Intech Investment Management LLC now owns 35,257 shares of the construction company's stock worth $5,371,000 after acquiring an additional 21,871 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 in the last quarter. Optimize Financial Inc purchased a new stake in shares of Dycom Industries during the 1st quarter worth approximately $219,000. United Services Automobile Association purchased a new stake in shares of Dycom Industries during the 1st quarter worth approximately $299,000. Finally, Arete Wealth Advisors LLC raised its position in shares of Dycom Industries by 16.2% during the 1st quarter. Arete Wealth Advisors LLC now owns 1,400 shares of the construction company's stock worth $213,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

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.