Craig Hallum Raises Dycom Industries (NYSE:DY) Price Target to $190.00

Dycom Industries (NYSE:DY) had its price objective raised by Craig Hallum from $145.00 to $190.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Other analysts also recently issued reports about the company. UBS Group increased their price target on Dycom Industries from $175.00 to $200.00 and gave the company a buy rating in a research report on Thursday. Wells Fargo & Company raised their target price on Dycom Industries from $165.00 to $175.00 and gave the company an overweight rating in a research report on Monday, May 20th. Raymond James boosted their price target on shares of Dycom Industries from $143.00 to $195.00 and gave the stock a strong-buy rating in a report on Thursday. B. Riley raised shares of Dycom Industries from a neutral rating to a buy rating and lifted their price objective for the stock from $101.00 to $172.00 in a research report on Friday, March 8th. Finally, KeyCorp boosted their target price on shares of Dycom Industries from $169.00 to $179.00 and gave the company an overweight rating in a research note on Thursday. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Dycom Industries currently has an average rating of Buy and a consensus target price of $175.86.

Dycom Industries Price Performance

DY opened at $179.73 on Thursday. Dycom Industries has a 1 year low of $78.42 and a 1 year high of $181.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.17 and a quick ratio of 2.85. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 2.32 and a beta of 1.37. The firm’s fifty day moving average price is $144.46 and its two-hundred day moving average price is $123.63.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.73. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 earnings per share. As a group, analysts anticipate that Dycom Industries will post 7.14 earnings per share for the current fiscal year.

Insider Activity

In other Dycom Industries news, VP Jason T. Lawson sold 220 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $140.27, for a total transaction of $30,859.40. Following the sale, the vice president now owns 7,793 shares in the company, valued at $1,093,124.11. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.28% of the company’s stock.

Institutional Trading of Dycom Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in Dycom Industries in the 1st quarter worth about $28,000. Headlands Technologies LLC bought a new position in shares of Dycom Industries in the first quarter valued at approximately $72,000. Quadrant Capital Group LLC grew its stake in Dycom Industries by 26.4% during the fourth quarter. Quadrant Capital Group LLC now owns 770 shares of the construction company’s stock valued at $89,000 after acquiring an additional 161 shares in the last quarter. Principal Securities Inc. bought a new stake in Dycom Industries during the 4th quarter worth approximately $142,000. Finally, Strs Ohio lifted its stake in Dycom Industries by 50.0% in the 4th quarter. Strs Ohio now owns 1,500 shares of the construction company’s stock worth $172,000 after purchasing an additional 500 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Company Profile

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.