Dycom Industries (NYSE:DY) Receives “Buy” Rating from DA Davidson

DA Davidson reiterated their buy rating on shares of Dycom Industries (NYSE:DY) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $210.00 target price on the construction company’s stock.

DY has been the subject of several other research reports. StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Bank of America boosted their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. B. Riley boosted their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, KeyCorp upped their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $206.13.

Dycom Industries Stock Up 3.5 %

DY stock opened at $202.74 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25. Dycom Industries has a 1-year low of $84.83 and a 1-year high of $207.20. The firm has a fifty day moving average price of $189.57 and a two-hundred day moving average price of $178.82. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.55 and a beta of 1.44.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.20. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm earned $2.03 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. Research analysts predict that Dycom Industries will post 7.96 EPS for the current year.

Hedge Funds Weigh In On Dycom Industries

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Dycom Industries by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock valued at $458,728,000 after purchasing an additional 12,395 shares during the period. Millennium Management LLC increased its holdings in shares of Dycom Industries by 6.3% in the 2nd quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock valued at $275,324,000 after purchasing an additional 96,846 shares during the period. State Street Corp increased its holdings in shares of Dycom Industries by 4.0% in the 3rd quarter. State Street Corp now owns 1,158,585 shares of the construction company’s stock valued at $228,357,000 after purchasing an additional 44,321 shares during the period. FMR LLC increased its holdings in shares of Dycom Industries by 2.4% in the 3rd quarter. FMR LLC now owns 772,666 shares of the construction company’s stock valued at $152,292,000 after purchasing an additional 17,862 shares during the period. Finally, Hill City Capital LP increased its holdings in shares of Dycom Industries by 2.3% in the 3rd quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock valued at $133,985,000 after purchasing an additional 15,000 shares during the period. Institutional investors and hedge funds 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.