Dycom Industries (NYSE:DY) Given New $215.00 Price Target at Wells Fargo & Company

Dycom Industries (NYSE:DY) had its price objective lifted by research analysts at Wells Fargo & Company from $200.00 to $215.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 14.97% from the stock’s previous close.

Several other brokerages have also recently commented on DY. B. Riley boosted their price target on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. KeyCorp lifted their target price on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Bank of America lifted their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $205.57.

Dycom Industries Trading Up 1.3 %

DY stock traded up $2.34 during mid-day trading on Friday, reaching $187.00. 25,611 shares of the stock traded hands, compared to its average volume of 288,425. Dycom Industries has a 52-week low of $84.83 and a 52-week high of $207.20. The stock’s fifty day moving average is $188.37 and its 200-day moving average is $177.18. The company has a market cap of $5.44 billion, a P/E ratio of 23.23, a P/E/G ratio of 1.54 and a beta of 1.44. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The firm 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 firm earned $2.03 earnings per share. Dycom Industries’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts expect that Dycom Industries will post 7.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Accent Capital Management LLC bought a new stake in Dycom Industries in the third quarter valued at $25,000. Annapolis Financial Services LLC acquired a new stake in shares of Dycom Industries in the 3rd quarter valued at $29,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Dycom Industries in the 1st quarter worth about $28,000. Anchor Investment Management LLC increased its position in shares of 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 purchasing an additional 65 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Dycom Industries by 25.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock valued at $57,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

About Dycom Industries

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.