Dycom Industries, Inc. (NYSE:DY) Given Consensus Recommendation of “Buy” by Brokerages

Dycom Industries, Inc. (NYSE:DY) has earned a consensus recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $241.25.

A number of brokerages have commented on DY. Wells Fargo & Company raised their price objective on Dycom Industries from $215.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. UBS Group raised their price objective on Dycom Industries from $234.00 to $258.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Raymond James Financial raised their price objective on Dycom Industries from $215.00 to $255.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 22nd. Wall Street Zen upgraded Dycom Industries from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Finally, DA Davidson raised their price objective on Dycom Industries from $220.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd.

Dycom Industries Stock Performance

Shares of DY stock opened at $245.46 on Friday. Dycom Industries has a 1-year low of $131.37 and a 1-year high of $245.82. 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 company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 1.40 and a beta of 1.32. The stock’s fifty day simple moving average is $209.17 and its 200-day simple moving average is $183.20.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.47. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $2.12 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that Dycom Industries will post 7.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc acquired a new stake in shares of Dycom Industries during the first quarter worth $28,000. AlphaQuest LLC acquired a new stake in shares of Dycom Industries during the first quarter worth $37,000. EverSource Wealth Advisors LLC grew its stake in shares of Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock worth $59,000 after purchasing an additional 71 shares during the period. GeoWealth Management LLC lifted its holdings in Dycom Industries by 35.9% during the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company’s stock worth $61,000 after acquiring an additional 92 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its holdings in 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 acquiring an additional 100 shares in the last quarter. 98.33% of the stock is currently owned by 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.