Dycom Industries (NYSE:DY) Price Target Raised to $215.00 at Wells Fargo & Company

Dycom Industries (NYSE:DY) had its target price hoisted by investment analysts at Wells Fargo & Company from $200.00 to $215.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 14.97% from the stock’s previous close.

Several other research firms have also recently issued reports on DY. KeyCorp upped their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Bank of America boosted their price objective on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, B. Riley increased their target price on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $205.57.

Dycom Industries Trading Up 1.3 %

DY traded up $2.34 during trading on Friday, hitting $187.00. 25,611 shares of the company’s stock were exchanged, compared to its average volume of 288,425. The stock has a 50 day moving average price of $188.37 and a 200 day moving average price of $177.18. Dycom Industries has a 1 year low of $84.83 and a 1 year high of $207.20. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The firm has a market cap of $5.44 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.20. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.03 earnings per share. As a group, analysts expect that Dycom Industries will post 7.96 EPS for the current fiscal year.

Institutional Trading of Dycom Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Accent Capital Management LLC bought a new stake in shares of Dycom Industries in the 3rd quarter worth $25,000. Allspring Global Investments Holdings LLC acquired a new position in Dycom Industries during the first quarter worth about $28,000. Annapolis Financial Services LLC bought a new stake in Dycom Industries in the third quarter worth about $29,000. Anchor Investment Management LLC lifted its holdings in Dycom Industries by 50.4% in the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after acquiring an additional 65 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Dycom Industries by 107.8% during the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock valued at $49,000 after purchasing an additional 152 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.