Dycom Industries, Inc. (NYSE:DY) Given Average Rating of “Buy” by Brokerages
Shares of Dycom Industries, Inc. (NYSE:DY) have received a consensus rating of “Buy” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $94.89.
A number of research analysts have issued reports on DY shares. ValuEngine downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. Zacks Investment Research raised Dycom Industries from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Tuesday, May 16th. DA Davidson reissued a “neutral” rating and issued a $97.00 price target (down from $105.00) on shares of Dycom Industries in a report on Sunday, May 28th. FBR & Co reissued an “outperform” rating and issued a $112.00 price target (down from $120.00) on shares of Dycom Industries in a report on Thursday, May 25th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $52.00 price target on shares of Dycom Industries in a report on Thursday, May 25th.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Dycom Industries during the fourth quarter valued at $12,808,000. Teachers Advisors LLC increased its position in shares of Dycom Industries by 32.9% in the fourth quarter. Teachers Advisors LLC now owns 73,797 shares of the construction company’s stock valued at $5,925,000 after buying an additional 18,272 shares during the last quarter. Capstone Asset Management Co. acquired a new position in shares of Dycom Industries during the first quarter valued at $219,000. Atria Investments LLC acquired a new position in shares of Dycom Industries during the first quarter valued at $226,000. Finally, Louisiana State Employees Retirement System increased its position in shares of Dycom Industries by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the construction company’s stock valued at $734,000 after buying an additional 100 shares during the last quarter.
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Shares of Dycom Industries (DY) opened at 83.69 on Tuesday. The company has a 50-day moving average of $88.79 and a 200 day moving average of $91.86. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 16.46 and a beta of 1.18. Dycom Industries has a 12-month low of $70.33 and a 12-month high of $110.64.
Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, May 24th. The construction company reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.11. Dycom Industries had a return on equity of 28.96% and a net margin of 5.30%. The firm had revenue of $786.30 million during the quarter, compared to the consensus estimate of $736.20 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue was up 18.3% compared to the same quarter last year. Analysts predict that Dycom Industries will post $5.23 earnings per share for the current year.
Dycom Industries Company Profile
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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