Dycom Industries, Inc. (NYSE:DY) Receives Consensus Recommendation of “Buy” from Analysts

Dycom Industries, Inc. (NYSE:DY) has been assigned an average rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $135.50.

A number of analysts have commented on DY shares. B. Riley raised Dycom Industries from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $101.00 to $172.00 in a research report on Friday, March 8th. KeyCorp upped their target price on Dycom Industries from $136.00 to $149.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th.

Dycom Industries Stock Performance

DY opened at $143.41 on Tuesday. The company has a market cap of $4.17 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 0.84 and a beta of 1.38. The company has a quick ratio of 2.85, a current ratio of 3.06 and a debt-to-equity ratio of 0.75. The firm’s 50-day moving average price is $136.33 and its 200-day moving average price is $115.11. Dycom Industries has a 52-week low of $78.42 and a 52-week high of $146.32.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.15). Dycom Industries had a net margin of 5.24% and a return on equity of 22.06%. The company had revenue of $952.50 million for the quarter, compared to analyst estimates of $968.87 million. During the same quarter in the previous year, the company posted $0.83 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that Dycom Industries will post 7.13 EPS for the current fiscal year.

Insider Buying and Selling at Dycom Industries

In related news, VP Jason T. Lawson sold 220 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $140.27, for a total transaction of $30,859.40. Following the sale, the vice president now directly owns 7,793 shares of the company’s stock, valued at $1,093,124.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dycom Industries

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Dycom Industries during the 1st quarter worth approximately $28,000. Quadrant Capital Group LLC raised its position in Dycom Industries by 26.4% during the fourth quarter. Quadrant Capital Group LLC now owns 770 shares of the construction company’s stock worth $89,000 after acquiring an additional 161 shares during the period. Principal Securities Inc. purchased a new position in Dycom Industries during the fourth quarter valued at $142,000. Strs Ohio lifted its holdings in Dycom Industries by 50.0% during the fourth quarter. Strs Ohio now owns 1,500 shares of the construction company’s stock valued at $172,000 after purchasing an additional 500 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Dycom Industries in the fourth quarter valued at about $207,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.