Dycom Industries Inc. (NYSE:DY) Given Consensus Rating of “Buy” by Analysts
Dycom Industries Inc. (NYSE:DY) has received an average rating of “Buy” from the ten analysts that are covering the company. Two investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $101.26.
DY has been the subject of a number of research reports. Vetr cut shares of Dycom Industries from a “hold” rating to a “sell” rating and set a $90.92 target price for the company. in a report on Monday, August 8th. DA Davidson set a $110.00 target price on shares of Dycom Industries and gave the company a “buy” rating in a report on Monday, August 22nd.
In other Dycom Industries news, CAO Rebecca Brightly Roach sold 1,000 shares of the company’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $94.37, for a total transaction of $94,370.00. Following the transaction, the chief accounting officer now directly owns 8,534 shares in the company, valued at $805,353.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Timothy R. Estes sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $96.03, for a total transaction of $960,300.00. Following the transaction, the chief operating officer now owns 233,812 shares in the company, valued at $22,452,966.36. The disclosure for this sale can be found here. Corporate insiders own 4.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of DY. Clovis Capital Management LP bought a new position in shares of Dycom Industries during the first quarter valued at $9,649,000. M&T Bank Corp raised its position in shares of Dycom Industries by 1.0% in the first quarter. M&T Bank Corp now owns 4,351 shares of the company’s stock valued at $281,000 after buying an additional 41 shares during the last quarter. Palisade Capital Management LLC NJ raised its position in shares of Dycom Industries by 88.4% in the first quarter. Palisade Capital Management LLC NJ now owns 84,416 shares of the company’s stock valued at $5,459,000 after buying an additional 39,612 shares during the last quarter. Columbia Partners L L C Investment Management raised its position in shares of Dycom Industries by 89.3% in the first quarter. Columbia Partners L L C Investment Management now owns 83,512 shares of the company’s stock valued at $5,400,000 after buying an additional 39,388 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Dycom Industries by 7.2% in the first quarter. BlackRock Group LTD now owns 51,782 shares of the company’s stock valued at $3,349,000 after buying an additional 3,474 shares during the last quarter.
Shares of Dycom Industries (NYSE:DY) opened at 81.78 on Wednesday. The firm has a market capitalization of $2.57 billion, a PE ratio of 21.02 and a beta of 1.47. The company has a 50-day moving average price of $83.89 and a 200 day moving average price of $80.23. Dycom Industries has a 12-month low of $47.10 and a 12-month high of $98.45.
Dycom Industries (NYSE:DY) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.09. Dycom Industries had a net margin of 4.82% and a return on equity of 27.39%. The company earned $789.16 million during the quarter, compared to the consensus estimate of $770.66 million. During the same quarter in the prior year, the firm posted $0.97 earnings per share. Dycom Industries’s revenue for the quarter was up 36.4% on a year-over-year basis. On average, equities analysts expect that Dycom Industries will post $5.37 earnings per share for the current year.
Dycom Industries Company Profile
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities.
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