Dycom Industries, Inc. (DY) Given Average Rating of “Buy” by Brokerages
Shares of Dycom Industries, Inc. (NYSE:DY) have been given an average recommendation of “Buy” by the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $102.71.
A number of equities analysts have recently commented on DY shares. BidaskClub raised shares of Dycom Industries from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. FBR & Co reaffirmed an “outperform” rating on shares of Dycom Industries in a report on Monday, June 19th. KeyCorp upgraded shares of Dycom Industries from a “sector weight” rating to an “overweight” rating and set a $87.00 target price on the stock in a research note on Wednesday, August 30th. Craig Hallum reiterated a “buy” rating and issued a $90.00 target price (down from $115.00) on shares of Dycom Industries in a research note on Thursday, August 31st. They noted that the move was a valuation call. Finally, Canaccord Genuity dropped their target price on shares of Dycom Industries from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, August 31st.
A number of hedge funds have recently made changes to their positions in DY. Lord Abbett & CO. LLC raised its stake in Dycom Industries by 54.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 194,134 shares of the construction company’s stock valued at $17,379,000 after purchasing an additional 68,060 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Dycom Industries by 6.6% in the 2nd 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. Verition Fund Management LLC boosted its holdings in Dycom Industries by 343.0% in the 2nd quarter. Verition Fund Management LLC now owns 50,997 shares of the construction company’s stock valued at $4,565,000 after purchasing an additional 39,484 shares during the period. Sterling Capital Management LLC boosted its holdings in Dycom Industries by 7.6% in the 2nd quarter. Sterling Capital Management LLC now owns 26,240 shares of the construction company’s stock valued at $2,349,000 after purchasing an additional 1,850 shares during the period. Finally, Castleark Management LLC bought a new stake in Dycom Industries in the 2nd quarter valued at $10,984,000.
Shares of Dycom Industries (DY) opened at 86.02 on Wednesday. Dycom Industries has a 12-month low of $70.33 and a 12-month high of $110.64. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 17.48 and a beta of 1.29. The company’s 50-day moving average is $80.73 and its 200-day moving average is $90.60.
Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 30th. The construction company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. Dycom Industries had a return on equity of 26.68% and a net margin of 5.13%. The firm had revenue of $780.20 million during the quarter, compared to analysts’ expectations of $798.62 million. During the same quarter in the prior year, the business earned $1.64 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. On average, equities analysts forecast that Dycom Industries will post $4.32 earnings per share for the current fiscal year.
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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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