Dycom Industries, Inc. (NYSE:DY) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Dycom Industries, Inc. (NYSE:DY) have been given a consensus recommendation of “Buy” by the seven research firms that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $191.71.

DY has been the subject of a number of recent research reports. UBS Group increased their target price on Dycom Industries from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 31st. B. Riley lifted their price target on Dycom Industries from $172.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, May 31st. KeyCorp raised their price objective on Dycom Industries from $169.00 to $179.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Finally, Raymond James lifted their price target on Dycom Industries from $143.00 to $195.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 23rd.

Dycom Industries Stock Performance

Shares of Dycom Industries stock opened at $168.35 on Wednesday. The stock has a market cap of $4.90 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 1.90 and a beta of 1.47. Dycom Industries has a 12 month low of $78.42 and a 12 month high of $186.47. The company has a quick ratio of 2.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $157.03 and a 200-day simple moving average of $134.32.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, May 22nd. The construction company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.73. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 earnings per share. On average, sell-side analysts anticipate that Dycom Industries will post 7.96 EPS for the current fiscal year.

Insider Transactions at Dycom Industries

In other news, VP Jason T. Lawson sold 220 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $140.27, for a total transaction of $30,859.40. Following the transaction, the vice president now owns 7,793 shares in the company, valued at $1,093,124.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.28% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Burney Co. purchased a new stake in Dycom Industries in the 1st quarter valued at about $415,000. Tidal Investments LLC increased its stake in Dycom Industries by 202.6% in the 1st quarter. Tidal Investments LLC now owns 10,835 shares of the construction company’s stock valued at $1,555,000 after buying an additional 7,254 shares during the last quarter. Interval Partners LP purchased a new stake in Dycom Industries in the 1st quarter valued at about $5,247,000. Janus Henderson Group PLC increased its stake in Dycom Industries by 168.5% in the 1st quarter. Janus Henderson Group PLC now owns 36,835 shares of the construction company’s stock valued at $5,287,000 after buying an additional 23,117 shares during the last quarter. Finally, Appian Way Asset Management LP increased its stake in Dycom Industries by 84.2% in the 1st quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company’s stock valued at $28,328,000 after buying an additional 90,198 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

About Dycom Industries

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.