Dycom Industries, Inc. (NYSE:DY - Get Free Report) reached a new 52-week high during mid-day 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 Ratings Changes
Several analysts recently weighed in on DY shares. Raymond James lifted their price target on shares of Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a report on Thursday, May 22nd. KeyCorp cut their target price 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. B. Riley boosted their price target on shares of Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen downgraded shares of Dycom Industries from a "buy" rating to a "hold" rating in a research note on Friday. Finally, 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 research report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Dycom Industries has a consensus rating of "Buy" and a consensus price target of $241.25.
Get Our Latest Stock Report on DY
Dycom Industries Stock Performance
The company has a market capitalization of $6.81 billion, a P/E ratio of 30.99, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27. The company's 50 day moving average is $178.33 and its 200-day moving average is $176.87. 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 earnings per share 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 business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm earned $2.12 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.
Dycom Industries declared that its Board of Directors has initiated 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 stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.
Institutional Investors Weigh In On Dycom Industries
Several hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its position in shares of Dycom Industries by 209.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company's stock worth $68,000 after purchasing an additional 264 shares during the last quarter. Braun Stacey Associates Inc. increased its stake in Dycom Industries by 110.7% during the 4th quarter. Braun Stacey Associates Inc. now owns 61,091 shares of the construction company's stock valued at $10,633,000 after purchasing an additional 32,098 shares in the last quarter. Barclays PLC raised its holdings in Dycom Industries by 279.0% in the third quarter. Barclays PLC now owns 57,923 shares of the construction company's stock worth $11,419,000 after buying an additional 42,641 shares during the last quarter. J. Goldman & Co LP lifted its stake in shares of Dycom Industries by 25.4% in the fourth quarter. J. Goldman & Co LP now owns 90,253 shares of the construction company's stock worth $15,709,000 after buying an additional 18,289 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Dycom Industries by 4,021.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,202 shares of the construction company's stock worth $1,449,000 after buying an additional 8,003 shares in the last quarter. 98.33% of the stock is owned by institutional investors.
About Dycom Industries
(
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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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