Fintel reports that on August 21, 2023, UBS maintained coverage of Dycom Industries (NYSE:DY) with a Buy recommendation.
Analyst Price Forecast Suggests 34.53% Upside
As of August 2, 2023, the average one-year price target for Dycom Industries is 129.03. The forecasts range from a low of 112.11 to a high of $152.25. The average price target represents an increase of 34.53% from its latest reported closing price of 95.91.
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The projected annual revenue for Dycom Industries is 4,115MM, an increase of 8.05%. The projected annual non-GAAP EPS is 5.47.
What is the Fund Sentiment?
There are 593 funds or institutions reporting positions in Dycom Industries. This is a decrease of 21 owner(s) or 3.42% in the last quarter. Average portfolio weight of all funds dedicated to DY is 0.29%, an increase of 1.43%. Total shares owned by institutions decreased in the last three months by 0.32% to 32,381K shares. 
The put/call ratio of DY is 1.14, indicating a bearish outlook.
What are Other Shareholders Doing?
Peconic Partners holds 3,153K shares representing 10.75% ownership of the company. In it's prior filing, the firm reported owning 2,690K shares, representing an increase of 14.67%. The firm increased its portfolio allocation in DY by 21.07% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,156K shares representing 7.35% ownership of the company.
Alliancebernstein holds 1,930K shares representing 6.58% ownership of the company. In it's prior filing, the firm reported owning 2,174K shares, representing a decrease of 12.67%. The firm decreased its portfolio allocation in DY by 13.11% over the last quarter.
Millennium Management holds 1,166K shares representing 3.98% ownership of the company. In it's prior filing, the firm reported owning 408K shares, representing an increase of 64.99%. The firm increased its portfolio allocation in DY by 198.06% over the last quarter.
Principal Financial Group holds 1,099K shares representing 3.75% ownership of the company. In it's prior filing, the firm reported owning 1,140K shares, representing a decrease of 3.78%. The firm decreased its portfolio allocation in DY by 38.55% over the last quarter.
Dycom Industries Background Information
(This description is provided by the company.)
Dycom is a leading provider of specialty contracting services throughout the United States. These services include program management; planning; engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services for telecommunications providers. Additionally, Dycom provides underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
Additional reading:
- Dycom Industries, Inc. Investor Presentation May 2023
- Reconciliation of Non-GAAP financial measures included in investor presentation
- Press release dated May 24, 2023 by Dycom Industries, Inc. reporting fiscal 2024 first quarter results.
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