UBS Group Forecasts Strong Price Appreciation for Dycom Industries (NYSE:DY) Stock

Dycom Industries (NYSE:DY - Get Free Report) had its price objective increased by equities research analysts at UBS Group from $258.00 to $288.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. UBS Group's target price points to a potential upside of 14.99% from the company's current price.

Several other brokerages have also recently issued reports on DY. 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 report on Friday, May 23rd. Wall Street Zen raised Dycom Industries from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. KeyCorp cut their price objective on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company raised their target price 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, Raymond James Financial upped their price target on shares of Dycom Industries from $215.00 to $255.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 22nd. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $245.00.

Dycom Industries Stock Down 0.7%

NYSE:DY traded down $1.83 during trading hours on Thursday, reaching $250.45. 225,011 shares of the company traded hands, compared to its average volume of 423,329. 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 business's 50-day moving average price is $223.03 and its two-hundred day moving average price is $187.20. Dycom Industries has a 1 year low of $131.37 and a 1 year high of $255.42. The stock has a market capitalization of $7.24 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.42 and a beta of 1.32.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.62 by $0.47. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.19 billion. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. Dycom Industries's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.12 EPS. Analysts predict that Dycom Industries will post 7.13 earnings per share for the current year.

Institutional Trading of Dycom Industries

Several hedge funds have recently modified their holdings of the company. Versant Capital Management Inc bought a new stake in Dycom Industries in the first quarter worth about $28,000. AlphaQuest LLC bought a new stake in shares of Dycom Industries during the 1st quarter worth approximately $37,000. EverSource Wealth Advisors LLC boosted its holdings in Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after acquiring an additional 71 shares during the period. GeoWealth Management LLC grew its position in Dycom Industries by 35.9% in the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock valued at $61,000 after acquiring an additional 92 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its position in shares of 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 during the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

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.

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