Dycom Industries (NYSE:DY) Hits New 1-Year High - Time to Buy?

Dycom Industries, Inc. (NYSE:DY - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $243.38 and last traded at $238.41, with a volume of 414271 shares changing hands. The stock had previously closed at $243.02.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James upped their target price on Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 22nd. KeyCorp decreased their price objective on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. B. Riley raised their target price on shares of Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. UBS Group upped their price target on shares of Dycom Industries from $234.00 to $258.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company increased 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. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Dycom Industries presently has an average rating of "Buy" and a consensus target price of $241.25.

Dycom Industries Trading Down 2.0%

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 has a market capitalization of $6.75 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.32. The business's 50-day moving average is $185.05 and its two-hundred day moving average is $178.23.

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 net margin of 4.91% and a return on equity of 20.99%. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the business earned $2.12 EPS. The business's revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that Dycom Industries, Inc. 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 buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Dycom Industries

Large investors have recently made changes to their positions in the stock. Versant Capital Management Inc purchased a new position in Dycom Industries in the first quarter valued at about $28,000. AlphaQuest LLC purchased a new position in Dycom Industries in the 1st quarter valued at approximately $37,000. EverSource Wealth Advisors LLC increased its stake in Dycom Industries by 26.3% in the 4th 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 in the last quarter. GeoWealth Management LLC raised its holdings in Dycom Industries by 35.9% during the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock worth $61,000 after purchasing an additional 92 shares during the last quarter. Finally, Anchor Investment Management LLC boosted its position in Dycom Industries by 37.5% during the fourth quarter. Anchor Investment Management LLC now owns 367 shares of the construction company's stock worth $64,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors 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.