B. Riley Issues Positive Forecast for Dycom Industries (NYSE:DY) Stock Price

Dycom Industries (NYSE:DY - Free Report) had its target price lifted by B. Riley from $200.00 to $265.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the construction company's stock.

Several other equities research analysts have also recently weighed in on DY. KeyCorp decreased their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. UBS Group raised their price target on shares of Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Wells Fargo & Company lifted their price target on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. boosted their target price on Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Finally, Raymond James raised their target price on Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $241.25.

Dycom Industries Stock Down 0.3%

DY traded down $0.61 on Friday, hitting $227.15. 80,717 shares of the company were exchanged, compared to its average volume of 414,241. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The stock's fifty day moving average is $171.17 and its 200-day moving average is $175.42. The company has a market cap of $6.54 billion, a PE ratio of 29.86, a PEG ratio of 1.29 and a beta of 1.27. Dycom Industries has a 12 month low of $131.37 and a 12 month high of $239.00.

Dycom Industries (NYSE:DY - Get Free Report) last posted 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 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 company's revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.12 earnings per share. Equities research analysts predict that Dycom Industries will post 7.13 EPS for the current fiscal year.

Dycom Industries announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Dycom Industries

A number of hedge funds have recently added to or reduced their stakes in DY. Millennium Management LLC increased its position in Dycom Industries by 3.2% in the first quarter. Millennium Management LLC now owns 1,481,394 shares of the construction company's stock worth $225,676,000 after buying an additional 45,562 shares in the last quarter. Hill City Capital LP lifted its holdings in shares of Dycom Industries by 14.1% in the 1st quarter. Hill City Capital LP now owns 969,784 shares of the construction company's stock valued at $147,737,000 after acquiring an additional 120,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in Dycom Industries by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 659,190 shares of the construction company's stock worth $114,765,000 after buying an additional 8,307 shares during the period. First Trust Advisors LP grew its position in Dycom Industries by 142.9% in the 4th quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock valued at $86,405,000 after acquiring an additional 292,050 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Dycom Industries by 851.6% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company's stock worth $72,459,000 after purchasing an additional 425,652 shares during the period. 98.33% of the stock is currently owned by hedge funds and other 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.