KeyCorp Increases Dycom Industries (NYSE:DY) Price Target to $169.00

Dycom Industries (NYSE:DY) had its price objective hoisted by research analysts at KeyCorp from $158.00 to $169.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price target suggests a potential upside of 12.85% from the company’s previous close.

Separately, B. Riley raised shares of Dycom Industries from a “neutral” rating to a “buy” rating and upped their target price for the stock from $101.00 to $172.00 in a research note on Friday, March 8th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $138.83.

Dycom Industries Stock Up 0.0 %

NYSE:DY opened at $149.76 on Monday. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.97 and a beta of 1.37. The company has a current ratio of 3.06, a quick ratio of 2.85 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average price of $141.33 and a two-hundred day moving average price of $119.91. Dycom Industries has a 1 year low of $78.42 and a 1 year high of $153.44.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, February 28th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.15). Dycom Industries had a return on equity of 22.06% and a net margin of 5.24%. The business had revenue of $952.50 million for the quarter, compared to the consensus estimate of $968.87 million. During the same period in the previous year, the company posted $0.83 earnings per share. Dycom Industries’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts expect that Dycom Industries will post 7.14 earnings per share for the current year.

Insider Activity at Dycom Industries

In related news, VP Jason T. Lawson sold 220 shares of Dycom Industries stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $140.27, for a total value of $30,859.40. Following the sale, the vice president now owns 7,793 shares of the company’s stock, valued at $1,093,124.11. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Dycom Industries

Several hedge funds and other institutional investors have recently made changes to their positions in DY. Thompson Davis & CO. Inc. grew its position in shares of Dycom Industries by 2.9% in the 1st quarter. Thompson Davis & CO. Inc. now owns 2,675 shares of the construction company’s stock valued at $384,000 after acquiring an additional 75 shares during the period. First Bank & Trust increased its position in Dycom Industries by 5.7% during the first quarter. First Bank & Trust now owns 2,013 shares of the construction company’s stock worth $289,000 after buying an additional 108 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Dycom Industries by 15.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 974 shares of the construction company’s stock valued at $87,000 after buying an additional 132 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Dycom Industries by 26.4% in the fourth quarter. Quadrant Capital Group LLC now owns 770 shares of the construction company’s stock valued at $89,000 after buying an additional 161 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Dycom Industries by 4.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 4,201 shares of the construction company’s stock worth $603,000 after acquiring an additional 168 shares during the period. 98.33% of the stock is owned by institutional investors.

Dycom Industries Company Profile

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.