Dycom Industries (NYSE:DY) Price Target Raised to $250.00

Dycom Industries (NYSE:DY - Get Free Report) had its price target raised by analysts at Wells Fargo & Company from $215.00 to $250.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the construction company's stock. Wells Fargo & Company's price objective suggests a potential upside of 8.86% from the stock's current price.

Several other equities analysts have also issued reports on the company. 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 report on Thursday, May 22nd. UBS Group lifted their target price on Dycom Industries from $234.00 to $258.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. B. Riley raised their price objective on Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a report on Friday, May 23rd. KeyCorp lowered their target price on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, DA Davidson increased their price target on Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $241.25.

Dycom Industries Trading Up 0.6%

DY stock traded up $1.32 during midday trading on Tuesday, reaching $229.66. The stock had a trading volume of 403,498 shares, compared to its average volume of 414,936. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 1.29 and a beta of 1.27. Dycom Industries has a twelve month low of $131.37 and a twelve month high of $230.57. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $175.29 and a two-hundred day simple moving average of $176.30.

Dycom Industries (NYSE:DY - Get Free Report) last issued its quarterly 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. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. Dycom Industries's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.12 EPS. As a group, research analysts expect that Dycom Industries will post 7.13 EPS for the current fiscal year.

Dycom Industries announced that its board has authorized a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Dycom Industries

Hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LLC grew 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 buying an additional 55 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Dycom Industries by 11.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company's stock valued at $98,000 after purchasing an additional 56 shares during the last quarter. Arizona State Retirement System grew its position in shares of Dycom Industries by 0.8% in the fourth quarter. Arizona State Retirement System now owns 8,447 shares of the construction company's stock valued at $1,470,000 after purchasing an additional 70 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 worth $59,000 after purchasing an additional 71 shares during the period. Finally, Ironwood Investment Management LLC boosted its stake in Dycom Industries by 0.6% in the 4th quarter. Ironwood Investment Management LLC now owns 14,795 shares of the construction company's stock valued at $2,575,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 98.33% of the company's stock.

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.