Wells Fargo & Company Issues Positive Forecast for Dycom Industries (NYSE:DY) Stock Price

Dycom Industries (NYSE:DY) had its target price increased by Wells Fargo & Company from $250.00 to $295.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

Several other brokerages also recently weighed in on DY. B. Riley raised their price target on Dycom Industries from $200.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Wall Street Zen downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. UBS Group raised their price target on Dycom Industries from $258.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. JPMorgan Chase & Co. raised their price target on Dycom Industries from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, May 22nd. Finally, KeyCorp raised their price target on Dycom Industries from $255.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Dycom Industries has a consensus rating of “Moderate Buy” and a consensus target price of $264.63.

Dycom Industries Trading Up 1.4%

Shares of NYSE DY opened at $273.11 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.89 and a quick ratio of 2.68. The stock has a market capitalization of $7.90 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 1.54 and a beta of 1.34. Dycom Industries has a 1-year low of $131.37 and a 1-year high of $285.64. The business has a fifty day moving average price of $253.79 and a 200 day moving average price of $203.38.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.47. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 EPS. Equities research analysts expect that Dycom Industries will post 7.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors and hedge funds have recently modified their holdings of DY. Envestnet Asset Management Inc. raised its position in Dycom Industries by 5.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,828 shares of the construction company’s stock valued at $3,451,000 after acquiring an additional 938 shares in the last quarter. Cerity Partners LLC raised its position in Dycom Industries by 19.3% during the fourth quarter. Cerity Partners LLC now owns 2,242 shares of the construction company’s stock valued at $417,000 after acquiring an additional 363 shares in the last quarter. Mariner LLC raised its position in Dycom Industries by 31.0% during the fourth quarter. Mariner LLC now owns 1,916 shares of the construction company’s stock valued at $334,000 after acquiring an additional 453 shares in the last quarter. XTX Topco Ltd purchased a new position in Dycom Industries during the fourth quarter valued at approximately $360,000. Finally, Marshall Wace LLP purchased a new position in Dycom Industries during the fourth quarter valued at approximately $1,314,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

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.