Dycom Industries Inc. (DY) Upgraded at Zacks Investment Research
Dycom Industries Inc. (NYSE:DY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Danaher has a decent earnings surprise history, beating estimates thrice, over the trailing four quarters. Of late, the company has been witnessing core revenue growth, margin expansion and earnings improvement, backed by its operating culture – Danaher Business System. The recent Fortive spin-off will help Danaher channelize resources to core business areas. Also, the company recently declared the buyout of Cepheid to fortify its presence in the molecular diagnostics market. However, Danaher has been witnessing persistent weakness in key industrial markets, including Latin America and a few European regions, which has put sales under pressure. Also, currency headwinds continue to dent sales and are most likely to mar Danaher’s financials in the near term. Going forward, continual weakness in industrial markets, stiff competition and a stringent regulatory environment may hurt the company's financials.”
Several other brokerages have also recently commented on DY. Wells Fargo & Co. restated a “buy” rating on shares of Dycom Industries in a report on Wednesday, September 28th. Stifel Nicolaus restated a “buy” rating on shares of Dycom Industries in a report on Sunday, August 28th. Vetr upgraded shares of Dycom Industries from a “hold” rating to a “buy” rating and set a $90.92 target price for the company in a report on Monday, August 15th. DA Davidson set a $110.00 target price on shares of Dycom Industries and gave the stock a “buy” rating in a report on Monday, August 22nd. Finally, FBR & Co restated an “outperform” rating and set a $121.00 target price on shares of Dycom Industries in a report on Tuesday, November 1st. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Dycom Industries has an average rating of “Buy” and a consensus price target of $98.57.
Shares of Dycom Industries (NYSE:DY) traded down 0.17% on Friday, reaching $91.35. 264,665 shares of the company traded hands. Dycom Industries has a 52-week low of $47.10 and a 52-week high of $98.45. The stock has a 50 day moving average of $82.77 and a 200 day moving average of $84.34. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 23.48 and a beta of 1.32.
Dycom Industries (NYSE:DY) last issued its earnings results on Tuesday, August 23rd. The company reported $1.64 EPS for the quarter, beating the Thomson Reuters’ 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 firm 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 earned $0.97 earnings per share. The business’s quarterly revenue was up 36.4% on a year-over-year basis. On average, analysts expect that Dycom Industries will post $5.36 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Peconic Partners LLC raised its position in shares of Dycom Industries by 10.4% in the third quarter. Peconic Partners LLC now owns 2,178,112 shares of the company’s stock valued at $178,126,000 after buying an additional 204,845 shares during the last quarter. York Capital Management Global Advisors LLC bought a new position in shares of Dycom Industries during the third quarter valued at $80,013,000. BlackRock Institutional Trust Company N.A. raised its position in shares of Dycom Industries by 18.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 908,864 shares of the company’s stock valued at $74,327,000 after buying an additional 140,267 shares during the last quarter. Columbus Circle Investors raised its position in shares of Dycom Industries by 7.5% in the second quarter. Columbus Circle Investors now owns 835,260 shares of the company’s stock valued at $74,973,000 after buying an additional 58,538 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Dycom Industries by 19.8% in the third quarter. Northern Trust Corp now owns 539,467 shares of the company’s stock valued at $44,118,000 after buying an additional 89,279 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.
About Dycom Industries
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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