Dycom Industries (NYSE:DY) PT Raised to $175.00 at Wells Fargo & Company

Dycom Industries (NYSE:DY) had its price target increased by Wells Fargo & Company from $165.00 to $175.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other research analysts have also recently issued reports about the stock. B. Riley upgraded shares of Dycom Industries from a neutral rating to a buy rating and raised their target price for the stock from $101.00 to $172.00 in a report on Friday, March 8th. KeyCorp raised their target price on shares of Dycom Industries from $158.00 to $169.00 and gave the stock an overweight rating in a report on Monday, May 13th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Dycom Industries currently has a consensus rating of Buy and an average price target of $175.86.

Dycom Industries Stock Performance

Shares of DY opened at $177.23 on Monday. Dycom Industries has a one year low of $78.42 and a one year high of $177.27. The company has a 50-day moving average of $143.72 and a two-hundred day moving average of $122.96. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.02 and a beta of 1.37. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.06 and a quick ratio of 2.85.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, May 22nd. The construction company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.39 by $0.73. Dycom Industries had a net margin of 5.24% and a return on equity of 22.06%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the company posted $1.73 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts expect that Dycom Industries will post 7.14 earnings per share for the current year.

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, VP Jason T. Lawson sold 220 shares of Dycom Industries stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the completion of the sale, the vice president now directly owns 7,793 shares in the company, valued at $1,093,124.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.28% of the company’s stock.

Institutional Trading of Dycom Industries

A number of institutional investors have recently added to or reduced their stakes in the business. Cubic Asset Management LLC raised its position in shares of Dycom Industries by 171.6% in the fourth quarter. Cubic Asset Management LLC now owns 11,882 shares of the construction company’s stock valued at $1,367,000 after purchasing an additional 7,507 shares during the period. International Assets Investment Management LLC bought a new position in shares of Dycom Industries in the fourth quarter valued at approximately $6,623,000. Peconic Partners LLC raised its position in shares of Dycom Industries by 2.9% in the third quarter. Peconic Partners LLC now owns 3,244,047 shares of the construction company’s stock valued at $288,720,000 after purchasing an additional 91,093 shares during the period. Invesco Ltd. raised its position in shares of Dycom Industries by 7.3% in the third quarter. Invesco Ltd. now owns 122,809 shares of the construction company’s stock valued at $10,930,000 after purchasing an additional 8,316 shares during the period. Finally, abrdn plc raised its position in shares of Dycom Industries by 275.0% in the third quarter. abrdn plc now owns 15,000 shares of the construction company’s stock valued at $1,335,000 after purchasing an additional 11,000 shares during the period. 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.