Dycom Industries (NYSE:DY) Reaches New 12-Month High at $192.76

Dycom Industries, Inc. (NYSE:DY) reached a new 52-week high on Thursday . The stock traded as high as $192.76 and last traded at $190.79, with a volume of 38561 shares trading hands. The stock had previously closed at $186.30.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DY. StockNews.com cut Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. KeyCorp boosted their price objective on shares of Dycom Industries from $169.00 to $179.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Bank of America increased their price objective on shares of Dycom Industries from $160.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. UBS Group lifted their target price on shares of Dycom Industries from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Raymond James increased their price target on shares of Dycom Industries from $143.00 to $195.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $195.29.

Dycom Industries Stock Up 3.8 %

The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 1.91 and a beta of 1.45. The company has a current ratio of 3.17, a quick ratio of 2.97 and a debt-to-equity ratio of 0.78. The firm’s 50 day moving average is $175.28 and its two-hundred day moving average is $152.05.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, May 22nd. The construction company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.73. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 earnings per share. On average, sell-side analysts predict that Dycom Industries, Inc. will post 8.02 EPS for the current year.

Insider Transactions at Dycom Industries

In other Dycom Industries news, VP Jason T. Lawson sold 856 shares of Dycom Industries stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $174.48, for a total value of $149,354.88. Following the completion of the sale, the vice president now owns 6,937 shares in the company, valued at approximately $1,210,367.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.28% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Dycom Industries during the first quarter worth approximately $28,000. GAMMA Investing LLC boosted its position in Dycom Industries by 107.8% during the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock worth $49,000 after purchasing an additional 152 shares during the period. Signaturefd LLC increased its holdings in Dycom Industries by 196.7% in the 2nd quarter. Signaturefd LLC now owns 359 shares of the construction company’s stock valued at $61,000 after purchasing an additional 238 shares in the last quarter. SJS Investment Consulting Inc. raised its position in Dycom Industries by 5,071.4% in the second quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company’s stock valued at $61,000 after purchasing an additional 355 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Dycom Industries during the first quarter worth about $72,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

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.