Dycom Industries (NYSE:DY) Sets New 52-Week High - Still a Buy?

Dycom Industries, Inc. (NYSE:DY - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $260.84 and last traded at $256.97, with a volume of 190871 shares changing hands. The stock had previously closed at $256.58.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. 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, May 23rd. Wells Fargo & Company lifted their price objective on Dycom Industries from $215.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. KeyCorp lifted their price objective on Dycom Industries from $255.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Raymond James Financial raised their target price on Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 22nd. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $259.00.

Dycom Industries Price Performance

The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.68 and a current ratio of 2.89. The company has a 50-day moving average of $236.74 and a 200-day moving average of $192.61. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 33.32, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32.

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, topping the consensus estimate of $1.62 by $0.47. The firm 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 20.04% and a net margin of 4.81%. The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.12 EPS. As a group, research analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Institutional Trading of Dycom Industries

Hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC raised its position in shares of Dycom Industries by 0.8% during the fourth quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company's stock worth $1,221,000 after acquiring an additional 55 shares during the last quarter. Xponance Inc. boosted its position in Dycom Industries by 8.8% in the fourth quarter. Xponance Inc. now owns 2,047 shares of the construction company's stock worth $356,000 after purchasing an additional 166 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Dycom Industries by 108.1% during the 4th quarter. American Century Companies Inc. now owns 35,575 shares of the construction company's stock valued at $6,192,000 after buying an additional 18,476 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Dycom Industries during the 4th quarter valued at $1,079,000. Finally, LPL Financial LLC raised its stake in shares of Dycom Industries by 15.1% during the 4th quarter. LPL Financial LLC now owns 10,113 shares of the construction company's stock valued at $1,760,000 after purchasing an additional 1,326 shares during the period. 98.33% of the stock is owned by institutional investors and hedge funds.

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.