Dycom Industries (NYSE:DY) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Dycom Industries (NYSE:DY) from a buy rating to a hold rating in a research report report published on Friday morning.

DY has been the topic of a number of other research reports. UBS Group lifted their price target on shares of Dycom Industries from $175.00 to $200.00 and gave the stock a buy rating in a report on Thursday, May 23rd. Raymond James boosted their target price on shares of Dycom Industries from $143.00 to $195.00 and gave the company a strong-buy rating in a report on Thursday, May 23rd. Craig Hallum boosted their target price on shares of Dycom Industries from $145.00 to $190.00 and gave the company a buy rating in a report on Thursday, May 23rd. B. Riley boosted their target price on shares of Dycom Industries from $172.00 to $205.00 and gave the company a buy rating in a report on Friday, May 31st. Finally, Wells Fargo & Company boosted their target price on shares of Dycom Industries from $165.00 to $175.00 and gave the company an overweight rating in a report on Monday, May 20th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Dycom Industries has a consensus rating of Buy and a consensus price target of $191.71.

Dycom Industries Trading Down 0.9 %

NYSE:DY opened at $168.76 on Friday. The company has a current ratio of 3.17, a quick ratio of 2.97 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $4.91 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.79 and a beta of 1.48. The firm’s 50 day moving average is $162.07 and its 200 day moving average is $137.30. Dycom Industries has a 12 month low of $78.42 and a 12 month high of $186.47.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results 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 company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. Dycom Industries’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. Sell-side analysts expect that Dycom Industries will post 7.96 earnings per share for the current year.

Insider Activity

In other news, VP Jason T. Lawson sold 220 shares of the business’s 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 completion of the transaction, the vice president now directly owns 7,793 shares in the company, valued at approximately $1,093,124.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. grew its position in Dycom Industries by 2.9% in the first quarter. Thompson Davis & CO. Inc. now owns 2,675 shares of the construction company’s stock worth $384,000 after acquiring an additional 75 shares in the last quarter. First Bank & Trust grew its position in Dycom Industries by 5.7% in the first quarter. First Bank & Trust now owns 2,013 shares of the construction company’s stock worth $289,000 after acquiring an additional 108 shares in the last quarter. Quadrant Capital Group LLC grew its position in Dycom Industries by 26.4% in 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 in the last quarter. Commonwealth Equity Services LLC boosted its position in Dycom Industries by 4.2% during the first quarter. Commonwealth Equity Services LLC now owns 4,201 shares of the construction company’s stock valued at $603,000 after buying an additional 168 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Dycom Industries by 7.6% during the fourth quarter. Raymond James & Associates now owns 2,759 shares of the construction company’s stock valued at $318,000 after buying an additional 194 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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.