Dycom Industries (NYSE:DY) Given New $288.00 Price Target at UBS Group

Dycom Industries (NYSE:DY - Free Report) had its price target increased by UBS Group from $258.00 to $288.00 in a research report report published on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the construction company's stock.

Several other research analysts have also weighed in on DY. KeyCorp reduced their price objective 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. 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 lifted their price target 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. B. Riley lifted their price target on shares of Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, DA Davidson lifted their price target on shares of Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $245.00.

Dycom Industries Trading Up 0.8%

Shares of NYSE DY traded up $2.06 during mid-day trading on Thursday, hitting $252.33. The company's stock had a trading volume of 184,027 shares, compared to its average volume of 425,462. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 31.98, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.89 and a quick ratio of 2.68. Dycom Industries has a one year low of $131.37 and a one year high of $255.42. The company's fifty day simple moving average is $226.01 and its 200-day simple moving average is $188.34.

Dycom Industries (NYSE:DY - Get Free Report) last released 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. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm earned $2.12 EPS. Dycom Industries's quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Dycom Industries will post 7.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors have recently added to or reduced their stakes in DY. Alyeska Investment Group L.P. acquired a new position in Dycom Industries during the fourth quarter worth $80,584,000. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Dycom Industries by 851.6% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company's stock worth $72,459,000 after buying an additional 425,652 shares during the last quarter. Norges Bank acquired a new position in Dycom Industries during the fourth quarter worth $55,802,000. Assenagon Asset Management S.A. increased its holdings in Dycom Industries by 327.1% during the first quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company's stock worth $60,818,000 after buying an additional 305,755 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Dycom Industries by 142.9% during the fourth quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock worth $86,405,000 after buying an additional 292,050 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

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.