Dycom Industries Price Target Increased to $33.00 by Analysts at DA Davidson (DY)
DA Davidson hoisted their price target on shares of Dycom Industries (NYSE:DY) from $30.00 to $33.00 in a research note issued on Wednesday, Analyst Ratings.Net reports. DA Davidson’s target price would suggest a potential upside of 16.98% from the company’s current price.
Dycom Industries (NYSE:DY) traded up 3.41% during mid-day trading on Wednesday, hitting $28.21. The stock had a trading volume of 175,075 shares. Dycom Industries has a 52-week low of $13.08 and a 52-week high of $28.65. The stock’s 50-day moving average is $26.97 and its 200-day moving average is $23.54. The company has a market cap of $939.3 million and a price-to-earnings ratio of 26.23.
Dycom Industries (NYSE:DY) last announced its earnings results on Tuesday, August 27th. The company reported $0.44 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.45 by $0.01. The company had revenue of $478.63 million for the quarter, compared to the consensus estimate of $465.72 million. During the same quarter last year, the company posted $0.39 earnings per share. Dycom Industries’s revenue was up 50.5% compared to the same quarter last year. Analysts expect that Dycom Industries will post $1.48 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital Markets raised their price target on shares of Dycom Industries from $28.00 to $32.00 in a research note to investors on Wednesday, September 4th. They now have an “outperform” rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Dycom Industries from $28.00 to $30.00 in a research note to investors on Friday, August 30th. They now have a “buy” rating on the stock. Finally, analysts at Zacks downgraded shares of Dycom Industries from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, August 2nd. They now have a $28.40 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $28.48.
Dycom Industries, Inc (NYSE:DY) is a provider of specialty contracting services.
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