DA Davidson Increases Dycom Industries (NYSE:DY) Price Target to $125.00

Dycom Industries (NYSE:DY – Get Rating) had its price objective hoisted by equities researchers at DA Davidson to $125.00 in a report released on Thursday, Stock Target Advisor reports. DA Davidson’s price objective would suggest a potential upside of 35.27% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. StockNews.com initiated coverage on Dycom Industries in a report on Thursday, March 31st. They issued a “buy” rating for the company. TheStreet downgraded Dycom Industries from a “b-” rating to a “c+” rating in a research note on Wednesday, March 2nd. B. Riley dropped their price target on shares of Dycom Industries from $120.00 to $115.00 in a research note on Thursday, March 3rd. Wells Fargo & Company reduced their price objective on shares of Dycom Industries from $120.00 to $110.00 in a research report on Wednesday, May 11th. Finally, UBS Group started coverage on shares of Dycom Industries in a research report on Thursday, January 27th. They issued a “buy” rating and a $125.00 target price on the stock. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat.com, Dycom Industries presently has a consensus rating of “Buy” and an average target price of $112.14.

Shares of NYSE DY traded down $1.80 during midday trading on Thursday, reaching $92.41. 5,515 shares of the stock were exchanged, compared to its average volume of 254,913. The company has a quick ratio of 3.34, a current ratio of 3.55 and a debt-to-equity ratio of 1.09. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 58.12 and a beta of 1.53. The firm has a 50-day simple moving average of $89.27 and a two-hundred day simple moving average of $90.19. Dycom Industries has a twelve month low of $62.88 and a twelve month high of $105.28.

Dycom Industries (NYSE:DY – Get Rating) last announced its quarterly earnings results on Wednesday, March 2nd. The construction company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.09. The firm had revenue of $761.40 million for the quarter, compared to the consensus estimate of $723.83 million. Dycom Industries had a net margin of 1.55% and a return on equity of 5.94%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) earnings per share. Research analysts expect that Dycom Industries will post 2.99 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hilton Capital Management LLC raised its holdings in Dycom Industries by 3.7% in the 1st quarter. Hilton Capital Management LLC now owns 3,439 shares of the construction company’s stock valued at $328,000 after acquiring an additional 123 shares during the last quarter. Kestra Advisory Services LLC lifted its position in Dycom Industries by 5.1% during the first quarter. Kestra Advisory Services LLC now owns 2,582 shares of the construction company’s stock worth $246,000 after buying an additional 125 shares in the last quarter. FDx Advisors Inc. boosted its stake in Dycom Industries by 3.0% during the first quarter. FDx Advisors Inc. now owns 4,794 shares of the construction company’s stock worth $457,000 after buying an additional 139 shares during the last quarter. Comerica Bank increased its stake in shares of Dycom Industries by 1.0% in the 4th quarter. Comerica Bank now owns 14,095 shares of the construction company’s stock worth $1,187,000 after acquiring an additional 145 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Dycom Industries by 0.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 56,997 shares of the construction company’s stock worth $4,060,000 after acquiring an additional 151 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Dycom Industries Company Profile (Get Rating)

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers program management and engineering services; plans and designs aerial, underground, and buried fiber optic, copper, and coaxial cable systems; and construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

Further Reading

• Get a free copy of the StockNews.com research report on Dycom Industries (DY)
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