Dycom Industries (NYSE:DY) Price Target Raised to $250.00 at JPMorgan Chase & Co.

Dycom Industries (NYSE:DY - Get Free Report) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $200.00 to $250.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the construction company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 13.26% from the stock's previous close.

A number of other brokerages also recently weighed in on DY. KeyCorp cut their price target 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. Raymond James boosted their target price on Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, February 4th. Wells Fargo & Company upped their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday. B. Riley cut their price target on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Finally, UBS Group lifted their price objective on shares of Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a research report on Thursday. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $213.89.

Dycom Industries Stock Down 1.5%

Shares of DY traded down $3.39 during midday trading on Thursday, hitting $220.74. The company had a trading volume of 46,359 shares, compared to its average volume of 412,815. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.29 and a beta of 1.27. The company's 50 day moving average price is $165.72 and its 200 day moving average price is $174.23. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. Dycom Industries has a 52 week low of $131.37 and a 52 week high of $228.66.

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

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

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC increased its holdings in Dycom Industries by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company's stock valued at $1,221,000 after buying an additional 55 shares during the period. Wilmington Savings Fund Society FSB boosted its position in shares of Dycom Industries by 11.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company's stock valued at $98,000 after acquiring an additional 56 shares in the last quarter. Arizona State Retirement System increased its stake in Dycom Industries by 0.8% in the fourth quarter. Arizona State Retirement System now owns 8,447 shares of the construction company's stock valued at $1,470,000 after acquiring an additional 70 shares during the period. EverSource Wealth Advisors LLC raised its position in Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after purchasing an additional 71 shares in the last quarter. Finally, Ironwood Investment Management LLC lifted its stake in Dycom Industries by 0.6% during the fourth quarter. Ironwood Investment Management LLC now owns 14,795 shares of the construction company's stock worth $2,575,000 after purchasing an additional 89 shares during the period. 98.33% of the stock is currently owned by 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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