Dycom Industries (NYSE:DY) Sets New 12-Month High at $192.76

Dycom Industries, Inc. (NYSE:DY)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $192.76 and last traded at $190.79, with a volume of 38561 shares. The stock had previously closed at $186.30.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DY shares. KeyCorp raised their price objective on shares of Dycom Industries from $169.00 to $179.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. B. Riley lifted their price target on Dycom Industries from $172.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Raymond James upped their price objective on Dycom Industries from $143.00 to $195.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 23rd. StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, UBS Group upped their price target on shares of Dycom Industries from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $195.29.

Dycom Industries Stock Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 3.17 and a quick ratio of 2.97. The company has a market capitalization of $5.62 billion, a PE ratio of 24.89, a P/E/G ratio of 1.91 and a beta of 1.45. The stock has a 50-day simple moving average of $175.53 and a 200 day simple moving average of $152.32.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.73. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 EPS. Equities analysts anticipate that Dycom Industries, Inc. will post 8.02 EPS for the current fiscal year.

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, VP Jason T. Lawson sold 856 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $174.48, for a total transaction of $149,354.88. Following the sale, the vice president now owns 6,937 shares in the company, valued at approximately $1,210,367.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Dycom Industries in the 4th quarter valued at $33,679,000. Assenagon Asset Management S.A. grew its position in shares of Dycom Industries by 2,353.9% in the second quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock valued at $26,831,000 after purchasing an additional 152,509 shares during the period. Renaissance Technologies LLC increased its stake in Dycom Industries by 2,543.6% in the second quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company’s stock valued at $17,399,000 after purchasing an additional 99,200 shares during the last quarter. Millennium Management LLC lifted its position in Dycom Industries by 6.3% during the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock worth $275,324,000 after buying an additional 96,846 shares during the period. Finally, Appian Way Asset Management LP boosted its stake in Dycom Industries by 84.2% in the 1st quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company’s stock worth $28,328,000 after buying an additional 90,198 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.