Dycom Industries Inc. (NYSE:DY) gapped up before the market opened on Wednesday . The stock had previously closed at $94.71, but opened at $94.78. Dycom Industries shares last traded at $95.88, with a volume of 117,962 shares trading hands.

A number of research firms recently commented on DY. Vetr cut shares of Dycom Industries from a “hold” rating to a “sell” rating and set a $88.59 target price for the company. in a research report on Monday, July 11th. FBR & Co reissued a “buy” rating on shares of Dycom Industries in a research report on Thursday, May 26th. Wells Fargo & Co. reissued a “buy” rating on shares of Dycom Industries in a research report on Sunday, June 5th. Finally, Canaccord Genuity reissued a “buy” rating and set a $92.00 target price on shares of Dycom Industries in a research report on Wednesday, May 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. Dycom Industries has a consensus rating of “Buy” and an average price target of $91.07.

The stock’s 50-day moving average price is $90.50 and its 200 day moving average price is $71.69. The company has a market cap of $3.00 billion and a price-to-earnings ratio of 28.63.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Tuesday, May 24th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.34. The company had revenue of $664.60 million for the quarter, compared to analyst estimates of $597.78 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. Dycom Industries’s revenue was up 35.0% on a year-over-year basis. Equities research analysts expect that Dycom Industries Inc. will post $4.40 earnings per share for the current fiscal year.

In related news, CAO Rebecca Brightly Roach sold 1,000 shares of Dycom Industries stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $94.37, for a total value of $94,370.00. Following the completion of the transaction, the chief accounting officer now owns 8,534 shares in the company, valued at $805,353.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard B. Vilsoet sold 28,642 shares of Dycom Industries stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $93.56, for a total transaction of $2,679,745.52. Following the completion of the transaction, the vice president now owns 49,307 shares of the company’s stock, valued at approximately $4,613,162.92. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently modified their holdings of the company. Russell Frank Co increased its position in shares of Dycom Industries by 88.7% in the fourth quarter. Russell Frank Co now owns 38,945 shares of the company’s stock worth $2,727,000 after buying an additional 18,301 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of Dycom Industries by 30.5% in the fourth quarter. Nationwide Fund Advisors now owns 36,969 shares of the company’s stock worth $2,586,000 after buying an additional 8,633 shares in the last quarter. Rhumbline Advisers increased its position in shares of Dycom Industries by 6.9% in the fourth quarter. Rhumbline Advisers now owns 44,070 shares of the company’s stock worth $3,083,000 after buying an additional 2,840 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Dycom Industries by 10.3% in the fourth quarter. New York State Common Retirement Fund now owns 108,995 shares of the company’s stock worth $7,625,000 after buying an additional 10,168 shares in the last quarter. Finally, OppenheimerFunds Inc. purchased a new position in shares of Dycom Industries during the fourth quarter worth 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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