Dycom Industries, Inc. (DY) Price Target Raised to $112.00
Dycom Industries, Inc. (NYSE:DY) had its price objective increased by FBR & Co from $98.00 to $112.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a buy rating on the construction company’s stock.
A number of other equities research analysts have also weighed in on DY. BidaskClub upgraded Dycom Industries from a hold rating to a buy rating in a research report on Thursday, June 15th. Canaccord Genuity reiterated a buy rating and issued a $52.00 price target on shares of Dycom Industries in a research report on Thursday, May 25th. ValuEngine upgraded Dycom Industries from a hold rating to a buy rating in a research report on Thursday, May 25th. Zacks Investment Research upgraded Dycom Industries from a hold rating to a buy rating and set a $121.00 target price on the stock in a research report on Tuesday, May 16th. Finally, DA Davidson restated a neutral rating and set a $97.00 target price (down previously from $105.00) on shares of Dycom Industries in a research report on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Dycom Industries currently has an average rating of Buy and an average target price of $105.94.
Shares of Dycom Industries (DY) opened at 81.76 on Wednesday. Dycom Industries has a 12 month low of $70.33 and a 12 month high of $110.64. The company has a market capitalization of $2.54 billion, a PE ratio of 16.08 and a beta of 1.27. The firm has a 50-day moving average price of $84.51 and a 200-day moving average price of $91.74.
Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, August 30th. The construction company reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $780.20 million during the quarter, compared to analysts’ expectations of $798.62 million. During the same period in the previous year, the firm earned $1.64 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that Dycom Industries will post $4.49 EPS for the current year.
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Several hedge funds have recently modified their holdings of the company. Harbour Capital Advisors LLC raised its position in Dycom Industries by 9,665.8% in the second quarter. Harbour Capital Advisors LLC now owns 725,112 shares of the construction company’s stock valued at $8,100,000 after buying an additional 717,687 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Dycom Industries during the second quarter valued at about $26,385,000. Columbus Circle Investors raised its position in Dycom Industries by 141.6% in the second quarter. Columbus Circle Investors now owns 451,063 shares of the construction company’s stock valued at $40,379,000 after buying an additional 264,353 shares in the last quarter. Scout Investments Inc. raised its position in Dycom Industries by 407.6% in the second quarter. Scout Investments Inc. now owns 288,107 shares of the construction company’s stock valued at $25,791,000 after buying an additional 231,345 shares in the last quarter. Finally, Federated Investors Inc. PA raised its position in Dycom Industries by 24.1% in the second quarter. Federated Investors Inc. PA now owns 816,246 shares of the construction company’s stock valued at $73,070,000 after buying an additional 158,312 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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