Dycom Industries (NYSE:DY) Price Target Raised to $265.00

Dycom Industries (NYSE:DY - Get Free Report) had its target price lifted by investment analysts at B. Riley from $200.00 to $265.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. B. Riley's price objective points to a potential upside of 17.98% from the stock's current price.

DY has been the subject of a number of other reports. UBS Group lifted their price target on Dycom Industries from $234.00 to $258.00 and gave the stock a "buy" rating in a report on Thursday. KeyCorp dropped their price objective on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Raymond James boosted their price target on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a research note on Thursday. Wells Fargo & Company increased their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Dycom Industries presently has a consensus rating of "Buy" and an average price target of $225.56.

Dycom Industries Price Performance

Shares of DY stock opened at $224.61 on Friday. The firm's 50-day moving average is $167.05 and its two-hundred day moving average is $174.56. Dycom Industries has a 12 month low of $131.37 and a 12 month high of $228.66. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The company has a market capitalization of $6.46 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27.

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

Dycom Industries declared that its board has initiated a stock buyback program on Wednesday, February 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Dycom Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in DY. Smartleaf Asset Management LLC boosted its position in Dycom Industries by 209.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company's stock worth $68,000 after acquiring an additional 264 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Dycom Industries during the 4th quarter valued at $371,000. Braun Stacey Associates Inc. increased its stake in shares of Dycom Industries by 110.7% in the fourth quarter. Braun Stacey Associates Inc. now owns 61,091 shares of the construction company's stock worth $10,633,000 after acquiring an additional 32,098 shares during the last quarter. Mariner Investment Group LLC increased its position in Dycom Industries by 327.7% in the 4th quarter. Mariner Investment Group LLC now owns 11,000 shares of the construction company's stock worth $1,915,000 after purchasing an additional 8,428 shares during the last quarter. Finally, Barclays PLC lifted its stake in Dycom Industries by 279.0% in the third quarter. Barclays PLC now owns 57,923 shares of the construction company's stock valued at $11,419,000 after acquiring an additional 42,641 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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.

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