Dycom Industries Inc. (DY) Rating Reiterated by DA Davidson
Dycom Industries Inc. (NYSE:DY)‘s stock had its “buy” rating reissued by DA Davidson in a report released on Tuesday. They presently have a $105.00 price objective on the stock. DA Davidson’s price objective would indicate a potential upside of 35.45% from the stock’s current price.
The analysts wrote, “We will update our model and offer additional comments after the conference call with management scheduled for 9:00 AM ET / 6:00 AM PT on Tuesday, November 22nd.””
DY has been the subject of several other research reports. Vetr upgraded shares of Dycom Industries from a “hold” rating to a “buy” rating and set a $90.92 price target for the company in a research report on Monday, August 15th. FBR & Co upped their price target on shares of Dycom Industries from $115.00 to $121.00 and gave the company an “outperform” rating in a research report on Thursday, August 25th. Zacks Investment Research downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Monday, August 29th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Dycom Industries in a research report on Wednesday, September 28th. One investment 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 stock. The stock has an average rating of “Buy” and a consensus price target of $97.19.
Shares of Dycom Industries (NYSE:DY) opened at 77.52 on Tuesday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 16.99 and a beta of 1.32. Dycom Industries has a 12 month low of $47.10 and a 12 month high of $98.45. The stock has a 50 day moving average of $82.92 and a 200 day moving average of $84.88.
Dycom Industries (NYSE:DY) last issued its earnings results on Monday, November 21st. The company reported $1.67 earnings per share (EPS) for the quarter, beating the 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 business earned $799.20 million during the quarter, compared to analysts’ expectations of $801.34 million. During the same quarter in the prior year, the business posted $1.24 EPS. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, equities research analysts expect that Dycom Industries will post $5.22 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Peconic Partners LLC increased 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 worth $178,126,000 after buying an additional 204,845 shares in the last quarter. York Capital Management Global Advisors LLC bought a new position in shares of Dycom Industries during the third quarter worth about $80,013,000. BlackRock Institutional Trust Company N.A. increased 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 worth $74,327,000 after buying an additional 140,267 shares in the last quarter. Columbus Circle Investors increased 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 worth $74,973,000 after buying an additional 58,538 shares in the last quarter. Finally, Northern Trust Corp increased 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 worth $44,118,000 after buying an additional 89,279 shares in the last quarter. Institutional investors own 99.44% of the company’s stock.
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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