Dycom Industries (NYSE:DY) Upgraded at Wall Street Zen

Dycom Industries (NYSE:DY - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

A number of other analysts have also issued reports on the company. Wells Fargo & Company lifted their price target on Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. DA Davidson lifted their price objective on Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. KeyCorp reduced their price objective 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. JPMorgan Chase & Co. lifted their price objective on Dycom Industries from $200.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Finally, B. Riley lifted their price objective on Dycom Industries from $200.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $241.25.

Dycom Industries Price Performance

Shares of NYSE:DY traded down $2.85 during trading on Friday, reaching $232.69. The stock had a trading volume of 295,547 shares, compared to its average volume of 420,022. 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 business has a fifty day moving average price of $192.46 and a 200-day moving average price of $179.74. The stock has a market cap of $6.73 billion, a PE ratio of 30.62, a PEG ratio of 1.29 and a beta of 1.32. Dycom Industries has a 1-year low of $131.37 and a 1-year high of $243.38.

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

Dycom Industries declared that its Board of Directors has approved a stock buyback 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Dycom Industries

Several large investors have recently modified their holdings of the business. Strs Ohio acquired a new position in shares of Dycom Industries in the 1st quarter valued at $366,000. Intech Investment Management LLC lifted its stake in shares of Dycom Industries by 163.4% in the 1st quarter. Intech Investment Management LLC now owns 35,257 shares of the construction company's stock valued at $5,371,000 after purchasing an additional 21,871 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Dycom Industries by 7.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company's stock valued at $10,622,000 after purchasing an additional 4,985 shares during the last quarter. Optimize Financial Inc acquired a new position in shares of Dycom Industries in the 1st quarter valued at $219,000. Finally, United Services Automobile Association acquired a new position in shares of Dycom Industries in the 1st quarter valued at $299,000. 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.