Dycom Industries, Inc. (NYSE:DY) Given Average Rating of "Buy" by Brokerages

Dycom Industries, Inc. (NYSE:DY - Get Free Report) has received a consensus recommendation of "Buy" from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $259.00.

DY has been the topic of a number of research analyst reports. DA Davidson boosted their target price on Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. B. Riley upped their price objective on Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Raymond James Financial upped their price objective on Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. upped their price objective on Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Finally, Wall Street Zen raised Dycom Industries from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th.

Hedge Funds Weigh In On Dycom Industries

Several large investors have recently bought and sold shares of the business. Millennium Management LLC increased its holdings in Dycom Industries by 3.2% in the first quarter. Millennium Management LLC now owns 1,481,394 shares of the construction company's stock valued at $225,676,000 after buying an additional 45,562 shares during the last quarter. Hill City Capital LP increased its holdings in Dycom Industries by 14.1% in the first quarter. Hill City Capital LP now owns 969,784 shares of the construction company's stock valued at $147,737,000 after buying an additional 120,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in Dycom Industries by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 659,190 shares of the construction company's stock valued at $114,765,000 after buying an additional 8,307 shares during the last quarter. First Trust Advisors LP increased its holdings in Dycom Industries by 142.9% in the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock valued at $86,405,000 after buying an additional 292,050 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Dycom Industries by 851.6% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company's stock valued at $72,459,000 after buying an additional 425,652 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Trading Up 0.9%

NYSE DY traded up $2.37 on Thursday, reaching $264.78. The stock had a trading volume of 226,079 shares, compared to its average volume of 267,343. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 33.56, a P/E/G ratio of 1.51 and a beta of 1.32. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.80. Dycom Industries has a 12-month low of $131.37 and a 12-month high of $267.33. The stock has a fifty day moving average price of $239.55 and a two-hundred day moving average price of $193.87.

Dycom Industries (NYSE:DY - Get Free Report) last announced its earnings results on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.47. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.12 earnings per share. As a group, sell-side analysts forecast that Dycom Industries will post 7.13 EPS for the current fiscal year.

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.