Dycom Industries, Inc. (DY) Earns “Neutral” Rating from DA Davidson
Dycom Industries, Inc. (NYSE:DY)‘s stock had its “neutral” rating reissued by equities research analysts at DA Davidson in a report issued on Sunday. They presently have a $97.00 price objective on the construction company’s stock, down from their previous price objective of $105.00. DA Davidson’s price objective would suggest a potential upside of 17.22% from the company’s previous close.
A number of other brokerages have also commented on DY. Zacks Investment Research raised Dycom Industries from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Tuesday, May 16th. Wells Fargo & Co reaffirmed an “overweight” rating on shares of Dycom Industries in a report on Wednesday, April 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $120.00 target price (up previously from $112.00) on shares of Dycom Industries in a report on Saturday, April 22nd. FBR & Co raised their target price on Dycom Industries from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, March 2nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $52.00 target price on shares of Dycom Industries in a report on Thursday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $102.09.
Dycom Industries (NYSE:DY) opened at 82.75 on Friday. The stock has a market cap of $2.59 billion, a PE ratio of 16.27 and a beta of 1.31. The firm has a 50-day moving average price of $102.89 and a 200-day moving average price of $88.50. Dycom Industries has a 12-month low of $70.33 and a 12-month high of $110.64.
Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, May 24th. The construction company reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.11. The business had revenue of $786.30 million for the quarter, compared to analyst estimates of $736.20 million. Dycom Industries had a return on equity of 28.63% and a net margin of 5.30%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 EPS. Analysts forecast that Dycom Industries will post $5.26 EPS for the current fiscal year.
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In other Dycom Industries news, VP Richard B. Vilsoet sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $94.76, for a total value of $236,900.00. Following the sale, the vice president now owns 58,745 shares of the company’s stock, valued at approximately $5,566,676.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Advisors Preferred LLC acquired a new stake in Dycom Industries during the first quarter worth about $104,000. Acrospire Investment Management LLC acquired a new stake in Dycom Industries during the first quarter worth about $121,000. Flinton Capital Management LLC acquired a new stake in Dycom Industries during the fourth quarter worth about $126,000. Capstone Asset Management Co. acquired a new stake in Dycom Industries during the first quarter worth about $219,000. Finally, Atria Investments LLC acquired a new stake in Dycom Industries during the first quarter worth about $226,000.
About Dycom Industries
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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