Dycom Industries (NYSE:DY) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Dycom Industries (NYSE:DY) from a hold rating to a buy rating in a report published on Thursday.

Other equities research analysts also recently issued reports about the stock. UBS Group increased their price objective on shares of Dycom Industries from $175.00 to $200.00 and gave the stock a buy rating in a research note on Thursday, May 23rd. KeyCorp increased their price objective on shares of Dycom Industries from $169.00 to $179.00 and gave the stock an overweight rating in a research note on Thursday, May 23rd. Bank of America raised their price target on shares of Dycom Industries from $160.00 to $198.00 and gave the company a buy rating in a research note on Wednesday, May 29th. B. Riley raised their price target on shares of Dycom Industries from $172.00 to $205.00 and gave the company a buy rating in a research note on Friday, May 31st. Finally, Craig Hallum raised their price target on shares of Dycom Industries from $145.00 to $190.00 and gave the company a buy rating in a research note on Thursday, May 23rd. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Dycom Industries currently has a consensus rating of Buy and a consensus target price of $191.71.

Dycom Industries Trading Down 0.9 %

DY stock opened at $166.81 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.97 and a current ratio of 3.17. The company’s 50-day simple moving average is $158.20 and its 200 day simple moving average is $134.78. Dycom Industries has a 52 week low of $78.42 and a 52 week high of $186.47. The company has a market capitalization of $4.85 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 1.81 and a beta of 1.48.

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

Insider Activity at Dycom Industries

In related news, VP Jason T. Lawson sold 220 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the completion of the transaction, the vice president now owns 7,793 shares in the company, valued at approximately $1,093,124.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 4.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Dycom Industries in the 4th quarter valued at $33,679,000. Peconic Partners LLC increased its stake in shares of Dycom Industries by 2.9% in the 3rd quarter. Peconic Partners LLC now owns 3,244,047 shares of the construction company’s stock valued at $288,720,000 after acquiring an additional 91,093 shares in the last quarter. Appian Way Asset Management LP increased its stake in shares of 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 acquiring an additional 90,198 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Dycom Industries by 36.3% in the 4th quarter. First Trust Advisors LP now owns 271,782 shares of the construction company’s stock valued at $31,279,000 after acquiring an additional 72,415 shares in the last quarter. Finally, Kettle Hill Capital Management LLC increased its stake in shares of Dycom Industries by 66.1% in the 3rd quarter. Kettle Hill Capital Management LLC now owns 166,304 shares of the construction company’s stock valued at $14,801,000 after acquiring an additional 66,192 shares in the last quarter. 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.