Dycom Industries (NYSE:DY) Stock Price Expected to Rise, UBS Group Analyst Says

Dycom Industries (NYSE:DY - Get Free Report) had its price target hoisted by analysts at UBS Group from $234.00 to $258.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. UBS Group's target price would suggest a potential upside of 13.41% from the company's current price.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Dycom Industries in a research note on Monday, April 21st. They issued an "overweight" rating and a $200.00 price objective for the company. Raymond James increased their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research note on Tuesday, February 4th. B. Riley dropped their price objective on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Wells Fargo & Company increased their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Finally, KeyCorp lowered their target price on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Dycom Industries currently has a consensus rating of "Buy" and a consensus target price of $241.25.

Dycom Industries Price Performance

Shares of DY stock traded up $2.30 during mid-day trading on Thursday, reaching $227.50. The company's stock had a trading volume of 232,533 shares, compared to its average volume of 495,414. Dycom Industries has a 1-year low of $131.37 and a 1-year high of $228.66. The company has a market cap of $6.55 billion, a P/E ratio of 29.93, a PEG ratio of 1.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The firm's 50-day moving average is $169.80 and its two-hundred day moving average is $175.05.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings data 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. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the company posted $2.12 EPS. The business's revenue was up 10.2% on a year-over-year basis. On average, research analysts predict that Dycom Industries will post 7.13 earnings per share for the current year.

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

Institutional Investors Weigh In On Dycom Industries

Several large investors have recently made changes to their positions in the company. Intech Investment Management LLC grew its holdings in shares of Dycom Industries by 163.4% in the 1st quarter. Intech Investment Management LLC now owns 35,257 shares of the construction company's stock worth $5,371,000 after purchasing 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 last quarter. Optimize Financial Inc bought a new stake in Dycom Industries during the 1st quarter worth about $219,000. United Services Automobile Association bought a new stake in Dycom Industries during the 1st quarter worth about $299,000. Finally, Arete Wealth Advisors LLC grew its holdings in 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 acquiring an additional 195 shares during the last quarter. 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.