Shares of Dycom Industries Inc. (NYSE:DY) saw strong trading volume on Thursday . 5,536,893 shares traded hands during mid-day trading, an increase of 461% from the previous session’s volume of 986,739 shares.The stock last traded at $87.75 and had previously closed at $85.55.

A number of analysts recently issued reports on the stock. Vetr upgraded shares of Dycom Industries from a “sell” rating to a “hold” rating and set a $89.92 price target for the company in a research note on Tuesday, August 2nd. Canaccord Genuity lifted their price target on shares of Dycom Industries from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 11th. FBR & Co restated a “buy” rating on shares of Dycom Industries in a research note on Thursday, May 26th. Finally, Zacks Investment Research upgraded shares of Dycom Industries from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Tuesday, May 17th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $91.37.

The company has a 50-day moving average of $92.44 and a 200-day moving average of $74.56. The stock has a market capitalization of $2.75 billion and a price-to-earnings ratio of 26.21.

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

In other Dycom Industries news, Director Charles B. Coe sold 26,897 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $89.90, for a total transaction of $2,418,040.30. Following the completion of the sale, the director now owns 69,290 shares of the company’s stock, valued at $6,229,171. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Timothy R. Estes sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $96.03, for a total value of $960,300.00. Following the sale, the chief operating officer now directly owns 233,812 shares of the company’s stock, valued at approximately $22,452,966.36. The disclosure for this sale can be found here.

A number of large investors recently made changes to their positions in the company. Morgan Stanley boosted its stake in shares of Dycom Industries by 148.8% in the fourth quarter. Morgan Stanley now owns 481,009 shares of the company’s stock worth $33,652,000 after buying an additional 287,650 shares during the last quarter. Wells Fargo & Company MN boosted its stake in 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. Systematic Financial Management LP boosted its stake in Dycom Industries by 15.5% in the fourth quarter. Systematic Financial Management LP now owns 46,020 shares of the company’s stock valued at $3,219,000 after buying an additional 6,165 shares in the last quarter. Russell Frank Co boosted its stake in Dycom Industries by 88.7% in the fourth quarter. Russell Frank Co now owns 38,945 shares of the company’s stock valued at $2,727,000 after buying an additional 18,301 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in Dycom Industries by 157.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 30,601 shares of the company’s stock valued at $2,141,000 after buying an additional 18,701 shares in the last quarter.

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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