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

Dycom Industries (NYSE:DY) had its target price boosted by Wells Fargo & Company from $200.00 to $215.00 in a research report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the construction company’s stock.

DY has been the topic of a number of other reports. 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 report on Thursday, August 22nd. KeyCorp increased 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 cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Bank of America increased their price objective 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $205.57.

Dycom Industries Stock Performance

DY opened at $195.83 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.44. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.55 and a beta of 1.44. The company has a fifty day moving average of $188.73 and a 200 day moving average of $178.01. Dycom Industries has a fifty-two week low of $84.83 and a fifty-two week high of $207.20.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm posted $2.03 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Dycom Industries will post 7.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dycom Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Accent Capital Management LLC bought a new position in Dycom Industries in the third quarter worth approximately $25,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Dycom Industries in the 1st quarter worth $28,000. Legacy Investment Solutions LLC bought a new position in shares of Dycom Industries during the 3rd quarter worth $28,000. Annapolis Financial Services LLC bought a new position in shares of Dycom Industries during the 3rd quarter worth $29,000. Finally, Anchor Investment Management LLC increased its stake in shares of Dycom Industries by 50.4% during the second quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after buying an additional 65 shares during the period. 98.33% of the stock is currently 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.