Dycom Industries (NYSE:DY) Reaches New 52-Week High - Here's What Happened

Dycom Industries, Inc. (NYSE:DY - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $251.43 and last traded at $249.80, with a volume of 17616 shares traded. The stock had previously closed at $247.19.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DY shares. Wall Street Zen raised shares of Dycom Industries from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Raymond James Financial upped their target price on shares of Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 22nd. Wells Fargo & Company upped their target price on shares of Dycom Industries from $215.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. upped their target price on shares of Dycom Industries from $200.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Finally, KeyCorp lowered 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. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $241.25.

Dycom Industries Price Performance

The company has a debt-to-equity ratio of 0.80, a current ratio of 2.89 and a quick ratio of 2.68. The stock has a market capitalization of $7.24 billion, a P/E ratio of 31.73, a PEG ratio of 1.43 and a beta of 1.32. The company's 50 day simple moving average is $217.99 and its two-hundred day simple moving average is $185.53.

Dycom Industries (NYSE:DY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.47. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.19 billion. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 earnings per share. As a group, equities analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Institutional Trading of Dycom Industries

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in shares of Dycom Industries during the first quarter valued at approximately $28,000. AlphaQuest LLC bought a new stake in shares of Dycom Industries during the first quarter valued at approximately $37,000. EverSource Wealth Advisors LLC grew its stake in shares of Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after purchasing an additional 71 shares during the last quarter. GeoWealth Management LLC grew its stake in shares of Dycom Industries by 35.9% during the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock valued at $61,000 after purchasing an additional 92 shares during the last quarter. Finally, Anchor Investment Management LLC grew its stake in shares of Dycom Industries by 37.5% during the fourth quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock valued at $64,000 after purchasing an additional 100 shares during the last quarter. 98.33% of the stock is owned by 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.