Shares of Dycom Industries Inc. (NYSE:DY) gapped up prior to trading on Friday . The stock had previously closed at $92.16, but opened at $92.43. Dycom Industries shares last traded at $94.15, with a volume of 360,666 shares.

DY has been the topic of a number of research reports. Vetr upgraded shares of Dycom Industries from a “sell” rating to a “hold” rating and set a $88.59 price objective on the stock in a research note on Tuesday. FBR & Co reissued a “buy” rating on shares of Dycom Industries in a report on Thursday, May 26th. Canaccord Genuity reissued a “buy” rating and set a $92.00 price target on shares of Dycom Industries in a report on Wednesday, May 25th. Stifel Nicolaus reissued a “buy” rating and set a $86.00 price target (up from $80.00) on shares of Dycom Industries in a report on Friday, May 20th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Dycom Industries in a report on Sunday, June 5th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $91.07.

The company has a market cap of $2.98 billion and a price-to-earnings ratio of 28.37. The stock’s 50-day moving average is $85.55 and its 200-day moving average is $69.45.

Dycom Industries (NYSE:DY) last announced its earnings results on Tuesday, May 24th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.34. The business earned $664.60 million during the quarter, compared to analyst estimates of $597.78 million. The business’s revenue was up 35.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 earnings per share. On average, analysts predict that Dycom Industries Inc. will post $4.40 EPS for the current year.

In other news, Director Charles B. Coe sold 26,897 shares of Dycom Industries stock in a transaction on Friday, June 24th. The shares were sold at an average price of $89.90, for a total value of $2,418,040.30. Following the transaction, the director now directly owns 69,290 shares of the company’s stock, valued at approximately $6,229,171. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of institutional investors have recently made changes to their positions in the stock. Morgan Stanley boosted its position in shares of Dycom Industries by 148.8% in the fourth quarter. Morgan Stanley now owns 481,009 shares of the company’s stock valued at $33,652,000 after buying an additional 287,650 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Dycom Industries by 241.0% in the fourth quarter. Wells Fargo & Company MN now owns 249,079 shares of the company’s stock valued at $17,426,000 after buying an additional 176,025 shares in the last quarter. Navellier & Associates Inc boosted its position in shares of Dycom Industries by 870.9% in the fourth quarter. Navellier & Associates Inc now owns 184,806 shares of the company’s stock valued at $12,929,000 after buying an additional 165,771 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Dycom Industries during the fourth quarter valued at about $10,078,000. Finally, OppenheimerFunds Inc. purchased a new position in shares of Dycom Industries during the fourth quarter valued at about $7,550,000.

Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities.

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