Dycom Industries (NYSE:DY) Reaches New 1-Year High – Still a Buy?

by · The Markets Daily

Dycom Industries, Inc. (NYSE:DY – Get Free Report)’s stock price reached a new 52-week high on Monday . The stock traded as high as $205.00 and last traded at $205.00, with a volume of 30999 shares trading hands. The stock had previously closed at $198.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DY shares. B. Riley increased their target price on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Wells Fargo & Company lifted their target price on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. KeyCorp boosted 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. Bank of America boosted their price objective on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Dycom Industries presently has an average rating of “Buy” and an average price target of $203.43.

Check Out Our Latest Stock Report on DY

Dycom Industries Stock Performance

The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. The stock’s 50-day moving average price is $186.14 and its 200 day moving average price is $171.40. The company has a market cap of $5.80 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 1.57 and a beta of 1.41.

Dycom Industries (NYSE:DY – Get Free Report) last posted its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company posted $2.03 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, research analysts expect that Dycom Industries, Inc. will post 8.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Dycom Industries during the first quarter worth $28,000. Annapolis Financial Services LLC acquired a new position in shares of Dycom Industries during the third quarter worth approximately $29,000. Anchor Investment Management LLC lifted its holdings in Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after buying an additional 65 shares in the last quarter. GAMMA Investing LLC lifted its position in 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 during the period. Finally, SJS Investment Consulting Inc. grew its holdings in Dycom Industries by 5,071.4% during the 2nd quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company’s stock worth $61,000 after acquiring an additional 355 shares during the period. Institutional investors own 98.33% of the company’s stock.

About Dycom Industries

(Get Free Report)

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.

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