Wells Fargo & Company Issues Positive Forecast for Dycom Industries (NYSE:DY) Stock Price

Dycom Industries (NYSE:DY) had its price objective increased by Wells Fargo & Company from $200.00 to $215.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

DY has been the subject of several other reports. KeyCorp boosted their target price on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Bank of America boosted their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. B. Riley boosted their target price on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $205.57.

Dycom Industries Price Performance

NYSE DY opened at $187.52 on Friday. 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 has a market capitalization of $5.46 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.55 and a beta of 1.44. Dycom Industries has a 12-month low of $84.83 and a 12-month high of $207.20. The company has a 50 day moving average price of $188.73 and a two-hundred day moving average price of $178.01.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.26 by $0.20. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 earnings per share. As a group, equities analysts predict that Dycom Industries will post 7.96 earnings per share for the current fiscal year.

Institutional Trading of Dycom Industries

Large investors have recently modified their holdings of the company. Accent Capital Management LLC bought a new stake in shares of Dycom Industries during the 3rd quarter worth $25,000. Allspring Global Investments Holdings LLC bought a new stake in Dycom Industries in the 1st quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in Dycom Industries in the 3rd quarter valued at $28,000. Annapolis Financial Services LLC bought a new stake in Dycom Industries in the 3rd quarter valued at $29,000. Finally, Anchor Investment Management LLC boosted its holdings in Dycom Industries by 50.4% in the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after purchasing an additional 65 shares during the period. 98.33% of the stock is owned by institutional investors.

Dycom Industries Company Profile

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.