Dycom Industries (NYSE: DY – Get a rating) had its price target raised by investment analysts DA Davidson to $125.00 in a research note released to investors on Thursday, Target Stock Advisor reports. DA Davidson’s target price indicates a potential upside of 35.27% from the stock’s previous close.
Other analysts have also recently released reports on the company. Wells Fargo & Company reduced its target price on Dycom Industries from $120.00 to $110.00 in a Wednesday, May 11 research report. UBS Group took over Dycom Industries stock coverage in a Thursday, Jan. 27, research note. They issued a “buy” rating and a price target of $125.00 on the stock. B. Riley reduced his target price on Dycom Industries shares from $120.00 to $115.00 in a Thursday, March 3 research report. StockNews.com supposed coverage of Dycom Industries shares in a Thursday, March 31 research report. They issued a “buy” rating on the stock. Finally, TheStreet downgraded Dycom Industries from a “b-” rating to a “c+” rating in a Wednesday, March 2 research report. One equity research analyst rated the stock with a sell rating and seven gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $112.14.
Shares of DY traded down $1.80 during Thursday trading hours, hitting $92.41. The company had a trading volume of 5,515 shares, compared to an average volume of 254,913. The company has a current ratio of 3.55, a quick ratio of 3.34 and a debt ratio of 1.09. Dycom Industries has a 12-month low of $62.88 and a 12-month high of $105.28. The company has a 50-day simple moving average of $89.27 and a 200-day simple moving average of $90.19. The company has a market capitalization of $2.74 billion, a price-earnings ratio of 58.12 and a beta of 1.53.
Dycom Industries (NYSE: DY – Get a rating) last reported results on Wednesday, March 2. The construction company reported earnings per share of $0.02 for the quarter, beating the consensus estimate of ($0.07) by $0.09. Dycom Industries had a net margin of 1.55% and a return on equity of 5.94%. The company posted revenue of $761.40 million for the quarter, versus analyst estimates of $723.83 million. In the same period a year earlier, the company posted ($0.07) earnings per share. The company’s revenue for the quarter increased by 1.4% compared to the same quarter last year. Sell-side analysts expect Dycom Industries to post earnings per share of 2.99 for the current year.
A number of hedge funds have recently increased or reduced their stakes in the company. Quantamental Technologies LLC bought a new position in Dycom Industries during the first quarter worth approximately $243,000. Dynamic Technology Lab Private Ltd bought a new stock position in Dycom Industries during Q1 for a value of approximately $658,000. Eqis Capital Management Inc. acquired a new stake in shares of Dycom Industries in the first quarter worth approximately $228,000. Clear Sky Advisers LLC acquired a new stake in Dycom Industries in the first quarter worth approximately $438,000. Finally, Captrust Financial Advisors increased its stake in Dycom Industries by 61.8% during the first quarter. Captrust Financial Advisors now owns 1,974 shares of the construction company worth $188,000 after acquiring 754 additional shares in the last quarter. 92.89% of the shares are held by hedge funds and other institutional investors.
About Dycom Industries (Get a rating)
Dycom Industries, Inc provides specialized contracting services in the United States. The company offers program management and engineering services; plans and designs aerial, underground and buried fiber optic, copper and coaxial cable systems; and construction, maintenance and installation services, such as fiber optic, copper and coaxial cable placement and splicing to telecommunications providers.
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