As of Wednesday, Dycom Industries Inc.’s (NYSE:DY) stock closed at $91.46, up from $90.20 the previous day. While Dycom Industries Inc. has overperformed by 1.40%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DY fell by -8.46%, with highs and lows ranging from $122.12 to $76.21, whereas the simple moving average fell by -7.05% in the last 200 days.
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On January 27, 2022, UBS started tracking Dycom Industries Inc. (NYSE: DY) recommending Buy. A report published by Wells Fargo on August 23, 2021, Upgraded its rating to ‘Overweight’ for DY. Wells Fargo also Downgraded DY shares as ‘Equal Weight’, setting a target price of $88 on the company’s shares in a report dated March 04, 2021. B. Riley FBR resumed its ‘Buy’ rating for DY, as published in its report on August 27, 2020. B. Riley FBR’s report from May 20, 2020 suggests a price prediction of $42 for DY shares, giving the stock a ‘Buy’ rating. DA Davidson also rated the stock as ‘Buy’.
Analysis of Dycom Industries Inc. (DY)
Further, the quarter-over-quarter increase in sales is 23.50%, showing a positive trend in the upcoming months.
One of the most important indicators of Dycom Industries Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of 11.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and DY is recording 343.90K average volume. On a monthly basis, the volatility of the stock is set at 4.77%, whereas on a weekly basis, it is put at 7.59%, with a loss of -13.29% over the past seven days. Furthermore, long-term investors anticipate a median target price of $134.50, showing growth from the present price of $91.46, which can serve as yet another indication of whether DY is worth investing in or should be passed over.
How Do You Analyze Dycom Industries Inc. Shares?
The Engineering & Construction market is dominated by Dycom Industries Inc. (DY) based in the USA. When comparing Dycom Industries Inc. shares with other companies under Industrials, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 29.72, there is a growth in quarterly earnings of 148.90%.
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.40%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 96.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in DY shares?
The recent increase in stakes in DY appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in DY has decreased by -1.42% in the first quarter. The company now owns 2,859,481 shares of the stock, with a value of $337.93 million, following the sale of -41,158 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in DY during the first quarter, upping its stake by 0.69%. During the last quarter, the company picked up 18,341 additional shares for a total stake of worth $316.39 million, bringing number of shares owned by the company to 2,677,146.
During the first quarter, Peconic Partners LLC added a 199,950 position in DY. Dimensional Fund Advisors LP sold an additional 8706.0 shares in the last quarter, decreasing its holdings by -0.68%, now holding 1.27 million shares worth $150.26 million. At the end of the first quarter, AllianceBernstein LP decreased its DY holdings by -40.99% and now holds 1.2 million DY shares valued at $142.35 million with the lessened -0.84 million shares during the period. DY shares are owned by institutional investors to the tune of 96.70% at present.