Dycom Industries (NYSE:DY) Hits New 12-Month High at $148.87

Dycom Industries, Inc. (NYSE:DY) shares hit a new 52-week high on Tuesday . The company traded as high as $148.87 and last traded at $147.00, with a volume of 13288 shares changing hands. The stock had previously closed at $145.37.

Analyst Ratings Changes

DY has been the topic of a number of research reports. B. Riley raised shares of Dycom Industries from a “neutral” rating to a “buy” rating and lifted their price target for the company from $101.00 to $172.00 in a research note on Friday, March 8th. KeyCorp lifted their price objective on shares of Dycom Industries from $136.00 to $149.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Dycom Industries presently has a consensus rating of “Buy” and an average target price of $135.50.

Dycom Industries Stock Performance

The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 1.88 and a beta of 1.37. The stock’s fifty day moving average is $139.59 and its two-hundred day moving average is $117.83. The company has a quick ratio of 2.85, a current ratio of 3.06 and a debt-to-equity ratio of 0.75.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, February 28th. The construction company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.15). The firm had revenue of $952.50 million for the quarter, compared to analyst estimates of $968.87 million. Dycom Industries had a return on equity of 22.06% and a net margin of 5.24%. Dycom Industries’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 earnings per share. On average, analysts predict that Dycom Industries, Inc. will post 7.14 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Jason T. Lawson sold 220 shares of Dycom Industries stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $140.27, for a total transaction of $30,859.40. Following the completion of the sale, the vice president now directly owns 7,793 shares of the company’s stock, valued at approximately $1,093,124.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dycom Industries

Hedge funds have recently bought and sold shares of the business. Sheets Smith Wealth Management increased its holdings in Dycom Industries by 100.0% in the 1st quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock valued at $1,009,000 after buying an additional 3,514 shares during the period. ProShare Advisors LLC boosted its position in shares of Dycom Industries by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 5,796 shares of the construction company’s stock worth $832,000 after acquiring an additional 399 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Dycom Industries during the 1st quarter worth approximately $220,000. Headlands Technologies LLC acquired a new stake in shares of Dycom Industries during the 1st quarter worth approximately $72,000. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Dycom Industries during the 1st quarter worth approximately $2,913,000. 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.