Shares of Dycom Industries Inc. (NYSE:DY) traded down 20.2% during trading on Tuesday after FBR & Co lowered their price target on the stock from $121.00 to $115.00. FBR & Co currently has an outperform rating on the stock. Dycom Industries traded as low as $70.33 and last traded at $74.13, with a volume of 7,857,104 shares traded. The stock had previously closed at $92.95.

Other equities analysts have also issued research reports about the company. DA Davidson restated a “buy” rating and issued a $105.00 price target on shares of Dycom Industries in a research note on Tuesday. Zacks Investment Research upgraded Dycom Industries from a “sell” rating to a “hold” rating in a research note on Friday. Wells Fargo & Co. restated a “buy” rating on shares of Dycom Industries in a research note on Wednesday, September 28th. Vetr upgraded Dycom Industries from a “hold” rating to a “strong-buy” rating and set a $110.54 price target for the company in a research note on Thursday, September 8th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Dycom Industries in a research note on Sunday, August 28th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Dycom Industries has a consensus rating of “Buy” and a consensus target price of $97.19.

A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Dycom Industries by 4.4% in the first quarter. Geode Capital Management LLC now owns 210,347 shares of the company’s stock valued at $13,602,000 after buying an additional 8,953 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Dycom Industries by 7.1% in the first quarter. Envestnet Asset Management Inc. now owns 45,792 shares of the company’s stock valued at $2,961,000 after buying an additional 3,046 shares in the last quarter. Barclays PLC boosted its position in shares of Dycom Industries by 2,112.4% in the first quarter. Barclays PLC now owns 41,681 shares of the company’s stock valued at $2,668,000 after buying an additional 39,797 shares in the last quarter. Boothbay Fund Management LLC boosted its position in shares of Dycom Industries by 57.6% in the first quarter. Boothbay Fund Management LLC now owns 7,588 shares of the company’s stock valued at $491,000 after buying an additional 2,772 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Dycom Industries by 98.8% in the second quarter. BNP Paribas Arbitrage SA now owns 10,372 shares of the company’s stock valued at $931,000 after buying an additional 5,155 shares in the last quarter. Institutional investors own 99.44% of the company’s stock.

The company has a market cap of $2.33 billion, a price-to-earnings ratio of 19.06 and a beta of 1.32. The firm has a 50-day moving average of $83.35 and a 200 day moving average of $84.89.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Monday, November 21st. The company reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.02. The firm earned $799.20 million during the quarter, compared to the consensus estimate of $801.34 million. Dycom Industries had a net margin of 4.82% and a return on equity of 27.39%. The firm’s revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.24 earnings per share. On average, equities analysts predict that Dycom Industries Inc. will post $5.36 earnings per share for the current year.

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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.

5 Day Chart for NYSE:DY

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