Dycom Industries, Inc. (DY) Given New $120.00 Price Target at Stephens
Dycom Industries, Inc. (NYSE:DY) had its price objective boosted by equities researchers at Stephens from $105.00 to $120.00 in a report issued on Thursday. The brokerage currently has an “overweight” rating on the construction company’s stock. Stephens’ price target would suggest a potential upside of 36.52% from the company’s current price.
Several other analysts have also issued reports on DY. BidaskClub lowered shares of Dycom Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. KeyCorp raised shares of Dycom Industries from a “sector weight” rating to an “overweight” rating and set a $87.00 price objective for the company in a report on Wednesday, August 30th. FBR & Co raised their price objective on shares of Dycom Industries from $98.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, August 30th. Craig Hallum reaffirmed a “buy” rating and set a $90.00 price objective (down from $115.00) on shares of Dycom Industries in a report on Thursday, August 31st. They noted that the move was a valuation call. Finally, Canaccord Genuity reduced their price objective on shares of Dycom Industries from $120.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $104.88.
Dycom Industries (DY) traded up $1.92 during trading hours on Thursday, reaching $87.90. 570,318 shares of the company were exchanged, compared to its average volume of 663,373. Dycom Industries has a 1-year low of $70.33 and a 1-year high of $110.64. The company has a quick ratio of 2.69, a current ratio of 2.95 and a debt-to-equity ratio of 1.10. The firm has a market cap of $2,730.00, a price-to-earnings ratio of 16.27, a PEG ratio of 1.60 and a beta of 1.27.
Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, August 30th. The construction company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.03. The business had revenue of $780.20 million for the quarter, compared to analyst estimates of $798.62 million. Dycom Industries had a net margin of 5.13% and a return on equity of 26.68%. Dycom Industries’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $1.64 EPS. equities analysts anticipate that Dycom Industries will post 4.35 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in DY. Moors & Cabot Inc. bought a new position in shares of Dycom Industries in the third quarter worth about $249,000. Sterling Capital Management LLC raised its stake in shares of Dycom Industries by 15.8% in the third quarter. Sterling Capital Management LLC now owns 30,388 shares of the construction company’s stock worth $2,610,000 after acquiring an additional 4,148 shares during the last quarter. Vident Investment Advisory LLC bought a new position in shares of Dycom Industries in the third quarter worth about $2,426,000. First Allied Advisory Services Inc. raised its stake in shares of Dycom Industries by 8.1% in the third quarter. First Allied Advisory Services Inc. now owns 8,841 shares of the construction company’s stock worth $759,000 after acquiring an additional 666 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Dycom Industries in the third quarter worth about $6,264,000.
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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