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

Shares of Dycom Industries, Inc. (NYSE:DY - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $228.89 and last traded at $228.70, with a volume of 293687 shares. The stock had previously closed at $227.24.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Dycom Industries from a "buy" rating to a "hold" rating in a research note on Friday. B. Riley lifted their price target on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on shares of Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. KeyCorp decreased their price target on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, UBS Group lifted their price target on shares of Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $241.25.

Dycom Industries Stock Performance

The business has a fifty day moving average of $175.29 and a 200-day moving average of $176.23. The company has a market cap of $6.61 billion, a PE ratio of 30.22, a P/E/G ratio of 1.29 and a beta of 1.27. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89.

Dycom Industries (NYSE:DY - Get Free Report) last announced its earnings results on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.47. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 earnings per share. Equities research analysts anticipate that Dycom Industries, Inc. will post 7.13 earnings per share for the current fiscal year.

Dycom Industries announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $150.00 million in outstanding 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 often a sign that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Dycom Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc purchased a new position in shares of Dycom Industries during the first quarter valued at about $28,000. AlphaQuest LLC bought a new stake in shares of Dycom Industries during the 1st quarter valued at $37,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after buying an additional 71 shares in the last quarter. GeoWealth Management LLC boosted its holdings in shares of Dycom Industries by 35.9% during the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock valued at $61,000 after buying an additional 92 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its holdings in shares of Dycom Industries by 37.5% during the 4th quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock valued at $64,000 after buying an additional 100 shares in the last quarter. Hedge funds and other 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.