Dycom Industries, Inc. (DY) Receives Consensus Rating of “Buy” from Brokerages
Shares of Dycom Industries, Inc. (NYSE:DY) have been given an average rating of “Buy” by the ten research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $102.71.
Several brokerages have recently commented on DY. FBR & Co upped their price objective on shares of Dycom Industries from $98.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, August 30th. KeyCorp raised shares of Dycom Industries from a “sector weight” rating to an “overweight” rating and set a $87.00 price objective for the company in a research note on Wednesday, August 30th. Canaccord Genuity reduced their price target on shares of Dycom Industries from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, August 31st. Craig Hallum reiterated a “buy” rating and set a $90.00 price target (down previously from $115.00) on shares of Dycom Industries in a research report on Thursday, August 31st. They noted that the move was a valuation call. Finally, Deutsche Bank AG initiated coverage on shares of Dycom Industries in a research report on Tuesday, September 26th. They set a “buy” rating and a $103.00 price target on the stock.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Pacad Investment Ltd. grew its holdings in Dycom Industries by 71.4% in 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 period. Public Employees Retirement System of Ohio grew its holdings 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 worth $116,000 after purchasing an additional 80 shares during the period. Riverhead Capital Management LLC grew its holdings 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 worth $158,000 after purchasing an additional 864 shares during the period. Tower Research Capital LLC TRC grew its holdings 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 worth $192,000 after purchasing an additional 1,546 shares during the period. Finally, Sigma Planning Corp purchased a new stake in Dycom Industries in the second quarter worth about $211,000.
Dycom Industries (DY) opened at 89.71 on Friday. The firm has a market cap of $2.79 billion, a P/E ratio of 18.23 and a beta of 1.29. The stock has a 50 day moving average price of $83.36 and a 200 day moving average price of $89.69. Dycom Industries has a 52-week low of $70.33 and a 52-week high of $110.64.
Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, August 30th. The construction company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.44 by $0.03. The firm had revenue of $780.20 million during the quarter, compared to the consensus estimate of $798.62 million. Dycom Industries had a net margin of 5.13% and a return on equity of 26.68%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 earnings per share. Equities analysts predict that Dycom Industries will post $4.36 earnings per share for the current fiscal year.
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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