Dycom Industries Inc. (NYSE:DY) gapped down before the market opened on Wednesday after FBR & Co lowered their price target on the stock from $121.00 to $115.00. The stock had previously closed at $68.34, but opened at $74.13. FBR & Co currently has an outperform rating on the stock. Dycom Industries shares last traded at $77.35, with a volume of 898,797 shares traded.

DY has been the topic of a number of other research reports. DA Davidson set a $110.00 price target on Dycom Industries and gave the company a “buy” rating in a research report on Monday, August 22nd. Zacks Investment Research upgraded Dycom Industries from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Wednesday, October 5th. Vetr upgraded Dycom Industries from a “hold” rating to a “strong-buy” rating and set a $110.54 price target on the stock in a research report on Thursday, September 8th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Dycom Industries in a research report on Wednesday, September 28th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $97.19.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. ETRADE Capital Management LLC increased its position in Dycom Industries by 10.6% in the third quarter. ETRADE Capital Management LLC now owns 10,467 shares of the company’s stock worth $856,000 after buying an additional 1,001 shares during the period. LPL Financial LLC increased its position in Dycom Industries by 45.1% in the third quarter. LPL Financial LLC now owns 8,192 shares of the company’s stock worth $698,000 after buying an additional 2,546 shares during the period. Cornerstone Capital Management Holdings LLC. increased its position in Dycom Industries by 58.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 10,821 shares of the company’s stock worth $884,000 after buying an additional 4,000 shares during the period. Ameritas Investment Partners Inc. increased its position in Dycom Industries by 412.3% in the third quarter. Ameritas Investment Partners Inc. now owns 12,203 shares of the company’s stock worth $998,000 after buying an additional 9,821 shares during the period. Finally, Verition Fund Management LLC increased its position in Dycom Industries by 102.7% in the third quarter. Verition Fund Management LLC now owns 9,738 shares of the company’s stock worth $796,000 after buying an additional 4,933 shares during the period. 99.44% of the stock is currently owned by institutional investors and hedge funds.

The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 16.91 and a beta of 1.32. The firm has a 50-day moving average price of $83.13 and a 200-day moving average price of $84.93.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Monday, November 21st. The company reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.02. Dycom Industries had a return on equity of 29.59% and a net margin of 5.30%. The firm had revenue of $799.20 million for the quarter, compared to analysts’ expectations of $801.34 million. During the same period last year, the firm earned $1.24 earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, analysts anticipate that Dycom Industries Inc. will post $5.22 earnings per share for the current year.

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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 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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