Dycom Industries (NYSE:DY) Price Target Raised to $61.00 at Wells Fargo & Co
Dycom Industries (NYSE:DY) had its price objective hoisted by Wells Fargo & Co from $52.00 to $61.00 in a research report report published on Tuesday, The Fly reports. The brokerage currently has an outperform rating on the construction company’s stock.
A number of other brokerages have also commented on DY. Craig Hallum reissued an in-line rating and issued a $65.00 price target (up previously from $51.00) on shares of Dycom Industries in a report on Wednesday, May 22nd. Canaccord Genuity decreased their price target on shares of Dycom Industries from $68.00 to $64.00 and set a buy rating on the stock in a report on Wednesday, May 22nd. They noted that the move was a valuation call. Deutsche Bank increased their price target on shares of Dycom Industries from $54.00 to $62.00 and gave the stock a buy rating in a report on Wednesday, May 22nd. Zacks Investment Research raised shares of Dycom Industries from a sell rating to a hold rating in a report on Friday, May 24th. Finally, B. Riley decreased their price target on shares of Dycom Industries from $61.00 to $57.00 and set a buy rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $61.38.
Dycom Industries stock opened at $49.72 on Tuesday. The firm’s 50 day simple moving average is $46.80 and its 200 day simple moving average is $50.39. The company has a current ratio of 3.66, a quick ratio of 3.36 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $1.65 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 2.84 and a beta of 1.35. Dycom Industries has a 1-year low of $40.06 and a 1-year high of $85.48.
Several large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Dycom Industries in the 2nd quarter valued at $58,000. Public Employees Retirement System of Ohio boosted its stake in shares of Dycom Industries by 20.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,291 shares of the construction company’s stock valued at $135,000 after purchasing an additional 384 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Dycom Industries in the 2nd quarter valued at $145,000. SG Americas Securities LLC purchased a new stake in shares of Dycom Industries in the 1st quarter valued at $165,000. Finally, Sheets Smith Wealth Management purchased a new stake in Dycom Industries during the 2nd quarter valued at $207,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.
Dycom Industries Company Profile
Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.
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