JPMorgan Chase & Co. Increases Dycom Industries (NYSE:DY) Price Target to $250.00

Dycom Industries (NYSE:DY) had its target price raised by equities researchers at JPMorgan Chase & Co. from $200.00 to $250.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 10.64% from the company’s current price.

A number of other brokerages have also recently weighed in on DY. Raymond James upped their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. UBS Group upped their target price on Dycom Industries from $234.00 to $258.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp dropped their target price on Dycom Industries from $201.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company boosted their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, May 19th. Finally, B. Riley decreased their price target on Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Dycom Industries has a consensus rating of “Buy” and an average target price of $236.88.

Dycom Industries Trading Up 0.8%

DY stock opened at $225.97 on Thursday. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 1.29 and a beta of 1.27. Dycom Industries has a 52 week low of $131.37 and a 52 week high of $228.66. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $168.44 and a 200-day simple moving average of $174.85.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, May 21st. The construction company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.62 by $0.47. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm posted $2.12 earnings per share. Dycom Industries’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts expect that Dycom Industries will post 7.13 EPS for the current year.

Dycom Industries declared that its board has approved a stock buyback program on Wednesday, February 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc purchased a new stake in Dycom Industries during the 1st quarter worth approximately $28,000. AlphaQuest LLC purchased a new position in shares of Dycom Industries during the 1st quarter valued at approximately $37,000. EverSource Wealth Advisors LLC grew its position in shares of Dycom Industries by 26.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock worth $59,000 after buying an additional 71 shares in the last quarter. GeoWealth Management LLC grew its position in shares of Dycom Industries by 35.9% during the fourth quarter. GeoWealth Management LLC now owns 348 shares of the construction company’s stock worth $61,000 after buying an additional 92 shares in the last quarter. Finally, Anchor Investment Management LLC increased its stake in shares of Dycom Industries by 37.5% in the fourth quarter. Anchor Investment Management LLC now owns 367 shares of the construction company’s stock worth $64,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors 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.