Dycom Industries, Inc. (DY) Given Average Rating of “Buy” by Brokerages
Shares of Dycom Industries, Inc. (NYSE:DY) have been assigned an average recommendation of “Buy” from the ten analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $102.67.
A number of equities research analysts have commented on the company. Canaccord Genuity reduced their target price on Dycom Industries from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, August 31st. BidaskClub downgraded Dycom Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Zacks Investment Research cut Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. DA Davidson reissued a “neutral” rating and set a $97.00 target price (down from $105.00) on shares of Dycom Industries in a research note on Sunday, May 28th. Finally, FBR & Co reissued an “outperform” rating and set a $112.00 target price (down from $120.00) on shares of Dycom Industries in a research note on Thursday, May 25th.
Hedge funds have recently bought and sold shares of the company. Pacad Investment Ltd. boosted its holdings in shares of Dycom Industries by 71.4% during the second quarter. Pacad Investment Ltd. now owns 1,200 shares of the construction company’s stock worth $107,000 after purchasing an additional 500 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Dycom Industries by 6.6% in the second quarter. Public Employees Retirement System of Ohio now owns 1,298 shares of the construction company’s stock valued at $116,000 after purchasing an additional 80 shares during the period. Acrospire Investment Management LLC purchased a new position in Dycom Industries in the first quarter valued at about $121,000. Riverhead Capital Management LLC raised its position in Dycom Industries by 96.0% in the second quarter. Riverhead Capital Management LLC now owns 1,764 shares of the construction company’s stock valued at $158,000 after purchasing an additional 864 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Dycom Industries by 257.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,146 shares of the construction company’s stock valued at $192,000 after purchasing an additional 1,546 shares during the period.
Shares of Dycom Industries (NYSE:DY) opened at 78.01 on Friday. The stock has a market capitalization of $2.42 billion, a PE ratio of 15.34 and a beta of 1.26. Dycom Industries has a one year low of $70.33 and a one year high of $110.64. The stock’s 50 day moving average price is $83.41 and its 200 day moving average price is $91.69.
Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, August 30th. The construction company reported $1.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.03. The firm had revenue of $780.20 million for the quarter, compared to analyst estimates of $798.62 million. Dycom Industries had a return on equity of 26.68% and a net margin of 5.13%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. Equities research analysts predict that Dycom Industries will post $4.37 EPS for the current fiscal 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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