Dycom Industries Inc. (DY) Price Target Cut to $115.00
Dycom Industries Inc. (NYSE:DY) had its price target reduced by analysts at FBR & Co from $121.00 to $115.00 in a research report issued on Tuesday. The brokerage presently has an “outperform” rating on the stock. FBR & Co’s price target points to a potential upside of 48.35% from the company’s previous close.
A number of other equities research analysts have also commented on DY. Stifel Nicolaus reaffirmed a “buy” rating on shares of Dycom Industries in a research note on Sunday, August 28th. Vetr raised shares of Dycom Industries from a “hold” rating to a “strong-buy” rating and set a $110.54 target price on the stock in a research note on Thursday, September 8th. Zacks Investment Research raised shares of Dycom Industries from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Thursday, August 25th. DA Davidson reissued a “buy” rating and set a $105.00 target price on shares of Dycom Industries in a research note on Tuesday. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Dycom Industries in a research note on Wednesday, September 28th. One equities research 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. Dycom Industries presently has an average rating of “Buy” and a consensus target price of $97.19.
Shares of Dycom Industries (NYSE:DY) opened at 77.52 on Tuesday. The company’s 50 day moving average is $82.92 and its 200-day moving average is $84.88. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 16.99 and a beta of 1.32. Dycom Industries has a one year low of $47.10 and a one year high of $98.45.
Dycom Industries (NYSE:DY) last posted 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. Dycom Industries had a net margin of 5.30% and a return on equity of 29.59%. The company had revenue of $799.20 million for the quarter, compared to analyst estimates of $801.34 million. During the same period in the prior year, the firm posted $1.24 EPS. The company’s quarterly revenue was up 21.2% on a year-over-year basis. Equities analysts expect that Dycom Industries will post $5.22 EPS for the current year.
Several institutional investors have recently bought and sold shares of DY. York Capital Management Global Advisors LLC acquired a new position in Dycom Industries during the third quarter valued at $80,013,000. Bank of Montreal Can acquired a new position in Dycom Industries during the second quarter valued at $18,977,000. Emerald Advisers Inc. PA acquired a new position in Dycom Industries during the second quarter valued at $18,414,000. Peconic Partners LLC increased its position in 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. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Dycom Industries during the second quarter valued at $15,881,000. Hedge funds and other institutional investors own 99.44% of the company’s stock.
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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.
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