Brokerages Set Dycom Industries, Inc. (NYSE:DY) Price Target at $241.25

Shares of Dycom Industries, Inc. (NYSE:DY - Get Free Report) have been assigned an average recommendation of "Buy" from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $241.25.

A number of equities research analysts have weighed in on the company. B. Riley raised their price objective on Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Wall Street Zen upgraded Dycom Industries from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. KeyCorp dropped their price target on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. DA Davidson upped their price target on shares of Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th.

Dycom Industries Stock Down 0.4%

Shares of DY stock traded down $0.99 on Friday, hitting $244.72. The stock had a trading volume of 307,172 shares, compared to its average volume of 420,713. The stock's 50 day moving average is $209.17 and its 200-day moving average is $183.22. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 31.02, a P/E/G ratio of 1.40 and a beta of 1.32. Dycom Industries has a 52-week low of $131.37 and a 52-week high of $364.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.68 and a current ratio of 2.89.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 earnings per share for the quarter, beating 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 net margin of 4.81% and a return on equity of 20.04%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.12 EPS. As a group, research analysts expect that Dycom Industries will post 7.13 earnings per share for the current year.

Institutional Investors Weigh In On Dycom Industries

Several institutional investors and hedge funds have recently made changes to their positions in DY. Voya Investment Management LLC grew its position in shares of Dycom Industries by 1,432.2% during the 1st quarter. Voya Investment Management LLC now owns 144,883 shares of the construction company's stock valued at $22,071,000 after buying an additional 135,427 shares during the last quarter. Strs Ohio acquired a new position in Dycom Industries in the first quarter valued at approximately $366,000. Intech Investment Management LLC boosted its stake in Dycom Industries by 163.4% in 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Dycom Industries by 7.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company's stock valued at $10,622,000 after purchasing an additional 4,985 shares during the last quarter. Finally, Optimize Financial Inc acquired a new stake in shares of Dycom Industries during the 1st quarter worth approximately $219,000. 98.33% of the stock is owned by institutional investors and hedge funds.

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.