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

Dycom Industries, Inc. (NYSE:DY) shares hit a new 52-week high during mid-day trading on Tuesday . The stock 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.

Wall Street Analyst Weigh In

DY has been the subject of a number of analyst reports. KeyCorp boosted their price objective on Dycom Industries from $136.00 to $149.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. B. Riley upgraded shares of Dycom Industries from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $101.00 to $172.00 in a report on Friday, March 8th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Dycom Industries currently has a consensus rating of “Buy” and a consensus price target of $135.50.

Dycom Industries Price Performance

The firm has a market capitalization of $4.32 billion, a PE ratio of 19.71, a P/E/G ratio of 1.88 and a beta of 1.37. The company has a current ratio of 3.06, a quick ratio of 2.85 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average price of $138.66 and a two-hundred day moving average price of $117.18.

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

Insiders Place Their Bets

In other Dycom Industries news, VP Jason T. Lawson sold 220 shares of the company’s 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 document filed with the SEC, which can be accessed through this hyperlink. 4.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. ClariVest Asset Management LLC purchased a new position in Dycom Industries in the first quarter worth $2,913,000. SG Americas Securities LLC grew its stake in shares of Dycom Industries by 233.2% during the 1st quarter. SG Americas Securities LLC now owns 6,767 shares of the construction company’s stock worth $971,000 after purchasing an additional 4,736 shares during the period. Quantbot Technologies LP purchased a new position in shares of Dycom Industries in the 1st quarter valued at about $317,000. Texas Permanent School Fund Corp lifted its stake in shares of Dycom Industries by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 25,676 shares of the construction company’s stock valued at $3,685,000 after purchasing an additional 337 shares during the period. Finally, Thompson Davis & CO. Inc. boosted its holdings in Dycom Industries by 2.9% during the first quarter. Thompson Davis & CO. Inc. now owns 2,675 shares of the construction company’s stock worth $384,000 after buying an additional 75 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other 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.