Craig Hallum Reiterates “Buy” Rating for Dycom Industries, Inc. (DY)
Dycom Industries, Inc. (NYSE:DY)‘s stock had its “buy” rating reiterated by stock analysts at Craig Hallum in a research report issued to clients and investors on Thursday. They presently have a $90.00 price target on the construction company’s stock, down from their prior price target of $115.00. Craig Hallum’s price target would indicate a potential upside of 10.08% from the stock’s current price. The analysts noted that the move was a valuation call.
Several other analysts also recently weighed in on the stock. FBR & Co lifted their price target on shares of Dycom Industries from $98.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday. KeyCorp raised shares of Dycom Industries from a “sector weight” rating to an “overweight” rating and set a $87.00 price target for the company in a research note on Wednesday. BidaskClub downgraded shares of Dycom Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. ValuEngine downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Finally, DA Davidson reaffirmed a “neutral” rating and set a $97.00 price target (down previously from $105.00) on shares of Dycom Industries in a research note on Sunday, May 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $105.94.
Dycom Industries (NYSE:DY) opened at 81.76 on Thursday. Dycom Industries has a 52-week low of $70.33 and a 52-week high of $110.64. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 16.08 and a beta of 1.27. The firm’s 50-day moving average price is $84.51 and its 200-day moving average price is $91.74.
Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 30th. The construction company reported $1.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.03. Dycom Industries had a return on equity of 26.68% and a net margin of 5.13%. The business had revenue of $780.20 million during the quarter, compared to analyst estimates of $798.62 million. During the same quarter in the previous year, the business earned $1.64 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Dycom Industries will post $4.49 EPS for the current year.
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A number of institutional investors have recently modified their holdings of the company. Pacad Investment Ltd. increased its position in shares of Dycom Industries by 71.4% in the second quarter. Pacad Investment Ltd. now owns 1,200 shares of the construction company’s stock worth $107,000 after buying an additional 500 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Dycom Industries by 6.6% in the second quarter. Public Employees Retirement System of Ohio now owns 1,298 shares of the construction company’s stock worth $116,000 after buying an additional 80 shares during the period. Acrospire Investment Management LLC acquired a new position in shares of Dycom Industries during the first quarter worth approximately $121,000. Riverhead Capital Management LLC increased its position in shares of Dycom Industries by 96.0% in the second quarter. Riverhead Capital Management LLC now owns 1,764 shares of the construction company’s stock worth $158,000 after buying an additional 864 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Dycom Industries by 257.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,146 shares of the construction company’s stock worth $192,000 after buying an additional 1,546 shares during the period.
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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