Dycom Industries (NYSE:DY) Given New $258.00 Price Target at UBS Group

Dycom Industries (NYSE:DY - Get Free Report) had its target price lifted by research analysts at UBS Group from $234.00 to $258.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. UBS Group's price objective would suggest a potential upside of 15.17% from the company's current price.

Several other brokerages also recently commented on DY. JPMorgan Chase & Co. started coverage on shares of Dycom Industries in a report on Monday, April 21st. They issued an "overweight" rating and a $200.00 price target for the company. Raymond James raised their target price 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 report on Wednesday, March 19th. Wells Fargo & Company upped their price objective on Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday. Finally, KeyCorp cut their target price on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $208.33.

Dycom Industries Trading Up 15.7%

Shares of DY stock opened at $224.01 on Thursday. 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 firm has a market cap of $6.45 billion, a P/E ratio of 29.48, a PEG ratio of 1.29 and a beta of 1.27. The company has a 50 day moving average of $165.72 and a 200-day moving average of $174.23. Dycom Industries has a 12-month low of $131.37 and a 12-month high of $228.66.

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. 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 firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.12 EPS. Sell-side analysts anticipate that Dycom Industries will post 7.13 earnings per share for the current year.

Dycom Industries declared that its board has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Dycom Industries

A number of hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in Dycom Industries by 3.2% in the 1st quarter. Millennium Management LLC now owns 1,481,394 shares of the construction company's stock worth $225,676,000 after purchasing an additional 45,562 shares during the period. Hill City Capital LP lifted its stake in shares of Dycom Industries by 14.1% in the 1st quarter. Hill City Capital LP now owns 969,784 shares of the construction company's stock worth $147,737,000 after purchasing an additional 120,000 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Dycom Industries by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 659,190 shares of the construction company's stock worth $114,765,000 after buying an additional 8,307 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Dycom Industries by 142.9% in the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock worth $86,405,000 after buying an additional 292,050 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its position in Dycom Industries by 851.6% during 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 period. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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.

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