Dycom Industries (NYSE:DY) Reaches New 1-Year High – Here’s What Happened

by · The Cerbat Gem

Dycom Industries, Inc. (NYSE:DY – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $365.25 and last traded at $364.7610, with a volume of 132483 shares traded. The stock had previously closed at $355.83.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DY shares. Wells Fargo & Company lifted their target price on Dycom Industries from $315.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. DA Davidson lifted their price objective on shares of Dycom Industries from $300.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Dycom Industries in a research report on Wednesday, October 8th. Bank of America raised their target price on shares of Dycom Industries from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Finally, Zacks Research upgraded shares of Dycom Industries from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $371.25.

Check Out Our Latest Research Report on DY

Dycom Industries Stock Down 5.3%

The firm has a market capitalization of $10.00 billion, a P/E ratio of 33.98, a PEG ratio of 1.88 and a beta of 1.36. The firm’s 50 day moving average is $310.50 and its two-hundred day moving average is $274.80. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.09 and a quick ratio of 2.90.

Dycom Industries (NYSE:DY – Get Free Report) last posted its quarterly earnings results on Wednesday, November 19th. The construction company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.48. Dycom Industries had a net margin of 5.75% and a return on equity of 22.21%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm posted $2.68 earnings per share. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. Dycom Industries has set its Q4 2026 guidance at 1.620-1.970 EPS. Research analysts predict that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Institutional Trading of Dycom Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers bought a new position in shares of Dycom Industries during the 1st quarter worth approximately $387,000. LPL Financial LLC increased its holdings in shares of Dycom Industries by 6.8% in the first quarter. LPL Financial LLC now owns 10,798 shares of the construction company’s stock valued at $1,645,000 after purchasing an additional 685 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Dycom Industries by 2.2% in the first quarter. Citigroup Inc. now owns 45,830 shares of the construction company’s stock valued at $6,982,000 after purchasing an additional 989 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Dycom Industries in the first quarter valued at about $1,355,000. Finally, Entropy Technologies LP acquired a new stake in shares of Dycom Industries during the 1st quarter worth about $249,000. Institutional investors own 98.33% of the company’s stock.

About Dycom Industries

(Get Free Report)

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.

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