Brokerages Set Dycom Industries, Inc. (NYSE:DY) Price Target at $205.57

Shares of Dycom Industries, Inc. (NYSE:DY) have earned a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $206.13.

Several research firms recently weighed in on DY. Wells Fargo & Company lifted their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Bank of America raised their price target on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. KeyCorp raised their price target on Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. B. Riley raised their price target on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, StockNews.com cut Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th.

Institutional Investors Weigh In On Dycom Industries

Several large investors have recently made changes to their positions in DY. Assenagon Asset Management S.A. increased its holdings in shares of Dycom Industries by 2,353.9% in the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock worth $26,831,000 after purchasing an additional 152,509 shares during the last quarter. Renaissance Technologies LLC increased its stake in Dycom Industries by 2,543.6% during the second quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock worth $17,399,000 after acquiring an additional 99,200 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Dycom Industries during the third quarter worth approximately $19,424,000. Millennium Management LLC increased its stake in Dycom Industries by 6.3% during the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock worth $275,324,000 after acquiring an additional 96,846 shares during the last quarter. Finally, Appian Way Asset Management LP increased its stake in Dycom Industries by 84.2% during the first quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company’s stock worth $28,328,000 after acquiring an additional 90,198 shares during the last quarter. 98.33% of the stock is owned by institutional investors.

Dycom Industries Price Performance

NYSE DY opened at $180.14 on Friday. The company has a market capitalization of $5.24 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 1.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.44. The business’s fifty day moving average is $189.36 and its 200 day moving average is $178.83. Dycom Industries has a fifty-two week low of $99.54 and a fifty-two week high of $207.20.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.20. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. Dycom Industries’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.03 earnings per share. Sell-side analysts predict that Dycom Industries will post 7.96 earnings per share for the current year.

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.