Dycom Industries, Inc. (DY) Given New $120.00 Price Target at Stephens
Dycom Industries, Inc. (NYSE:DY) had its price target lifted by Stephens from $105.00 to $120.00 in a research report report published on Thursday. The firm currently has an overweight rating on the construction company’s stock.
Several other research analysts have also issued reports on the company. KeyCorp upgraded Dycom Industries from a sector weight rating to an overweight rating and set a $87.00 price target on the stock in a report on Wednesday, August 30th. Craig Hallum reiterated a buy rating and issued a $90.00 price target (down previously from $115.00) on shares of Dycom Industries in a report on Thursday, August 31st. They noted that the move was a valuation call. FBR & Co increased their price target on Dycom Industries from $98.00 to $112.00 and gave the stock a buy rating in a report on Wednesday, August 30th. Canaccord Genuity cut their price target on Dycom Industries from $120.00 to $110.00 and set a buy rating on the stock in a report on Thursday, August 31st. Finally, Deutsche Bank AG initiated coverage on Dycom Industries in a report on Tuesday, September 26th. They issued a buy rating and a $103.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Dycom Industries presently has an average rating of Buy and a consensus target price of $104.11.
Shares of Dycom Industries (NYSE:DY) traded up $2.14 during trading on Thursday, hitting $90.04. The company had a trading volume of 568,983 shares, compared to its average volume of 662,950. Dycom Industries has a 52 week low of $70.33 and a 52 week high of $110.64. The company has a current ratio of 2.95, a quick ratio of 2.69 and a debt-to-equity ratio of 1.10. The company has a market cap of $2,730.00, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27.
Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 30th. The construction company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.44 by $0.03. Dycom Industries had a return on equity of 26.68% and a net margin of 5.13%. The company had revenue of $780.20 million for the quarter, compared to analyst estimates of $798.62 million. During the same quarter in the prior year, the company earned $1.64 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. analysts predict that Dycom Industries will post 4.35 earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. lifted its holdings in shares of Dycom Industries by 0.3% in the second quarter. Alps Advisors Inc. now owns 5,126 shares of the construction company’s stock valued at $459,000 after purchasing an additional 14 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Dycom Industries by 1.8% in the second quarter. Teacher Retirement System of Texas now owns 2,526 shares of the construction company’s stock valued at $226,000 after purchasing an additional 44 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Dycom Industries by 6.6% in the second quarter. Public Employees Retirement System of Ohio now owns 1,298 shares of the construction company’s stock valued at $116,000 after purchasing an additional 80 shares in the last quarter. Capstone Asset Management Co. lifted its holdings in shares of Dycom Industries by 3.8% in the second quarter. Capstone Asset Management Co. now owns 2,448 shares of the construction company’s stock valued at $219,000 after purchasing an additional 90 shares in the last quarter. Finally, Partnervest Advisory Services LLC lifted its holdings in shares of Dycom Industries by 2.8% in the second quarter. Partnervest Advisory Services LLC now owns 3,501 shares of the construction company’s stock valued at $313,000 after purchasing an additional 95 shares in the last quarter.
About Dycom Industries
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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