Dycom Industries (NYSE:DY) Reaches New 52-Week High - Still a Buy?

Shares of Dycom Industries, Inc. (NYSE:DY - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $255.63 and last traded at $254.08, with a volume of 20083 shares traded. The stock had previously closed at $252.40.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. B. Riley raised their price objective 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. DA Davidson raised their price objective on shares of Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. KeyCorp raised their price objective on shares of Dycom Industries from $255.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Finally, Wall Street Zen upgraded shares of Dycom Industries from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Dycom Industries has a consensus rating of "Buy" and an average price target of $259.00.

Dycom Industries Price Performance

The stock has a market capitalization of $7.42 billion, a P/E ratio of 32.52, a PEG ratio of 1.43 and a beta of 1.32. The company has a current ratio of 2.89, a quick ratio of 2.68 and a debt-to-equity ratio of 0.80. The company has a fifty day simple moving average of $230.17 and a two-hundred day simple moving average of $189.83.

Dycom Industries (NYSE:DY - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $1.19 billion. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.12 EPS. Sell-side analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Dycom Industries

Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Dycom Industries by 20.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,183 shares of the construction company's stock worth $1,424,000 after purchasing an additional 1,394 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Dycom Industries by 26.3% during the 4th 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. Swiss National Bank raised its stake in Dycom Industries by 0.7% in the 4th quarter. Swiss National Bank now owns 57,200 shares of the construction company's stock valued at $9,956,000 after acquiring an additional 400 shares during the period. Corient Private Wealth LLC raised its stake 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 acquiring an additional 55 shares during the period. Finally, Cibc World Markets Corp bought a new stake in Dycom Industries in the 4th quarter valued at $462,000. Institutional investors and hedge funds own 98.33% of the company's stock.

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.