Dycom Industries (NYSE:DY) Hits New 12-Month High - Should You Buy?

Dycom Industries, Inc. (NYSE:DY - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $244.27 and last traded at $243.80, with a volume of 84859 shares changing hands. The stock had previously closed at $239.37.

Wall Street Analysts Forecast Growth

DY has been the topic of several analyst reports. B. Riley upped their target price on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Raymond James Financial boosted their price target on shares of Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 22nd. KeyCorp dropped their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. UBS Group lifted their target price on shares of Dycom Industries from $234.00 to $258.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, DA Davidson increased their price target on Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $241.25.

Dycom Industries Price Performance

The stock has a 50-day simple moving average of $209.17 and a 200 day simple moving average of $183.17. The stock has a market capitalization of $7.10 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 1.37 and a beta of 1.32. 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 results on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 20.04% 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 last year, the business earned $2.12 earnings per share. On average, equities analysts forecast that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dycom Industries

Several institutional investors have recently modified their holdings of DY. Smartleaf Asset Management LLC boosted its stake in Dycom Industries by 209.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company's stock valued at $68,000 after acquiring an additional 264 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Dycom Industries by 105.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the construction company's stock valued at $194,000 after purchasing an additional 572 shares during the period. SG Americas Securities LLC bought a new position in shares of Dycom Industries in the 1st quarter worth $342,000. J. Goldman & Co LP grew its stake in shares of Dycom Industries by 25.4% during the fourth quarter. J. Goldman & Co LP now owns 90,253 shares of the construction company's stock worth $15,709,000 after purchasing an additional 18,289 shares during the period. Finally, Pictet Asset Management Holding SA grew its stake in shares of Dycom Industries by 8.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,190 shares of the construction company's stock worth $729,000 after purchasing an additional 324 shares during the period. Institutional investors and hedge funds own 98.33% of the company's stock.

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.