Dycom Industries (NYSE:DY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Over the past one year, Dycom’s shares have significantly outperformed the industry average. Going forward, favorable industry trends like surging demand for 1-Gigabyte deployment, huge investment in wireline networks and cable capacity bodes well for the company. Over the past few quarters, rise in demand for network bandwidth, expanded core market share and surge in wireless carriers services proved conducive to the growth of the company. The company has secured several converged wireline, wireless multi-use network deployments across U.S. However, initiations of large-scale network deployments, particularly those occurring during periods of customer M&A activity, remain vulnerable to timing uncertainty. The guidance for fiscal first-quarter 2018 reflects compressed gross margin expectations due to an adverse mix of work activity during the period. Also, poor contribution from acquired businesses might also hamper growth.”

Several other equities research analysts have also weighed in on DY. B. Riley reissued a “buy” rating on shares of Dycom Industries in a research report on Wednesday, November 1st. Wells Fargo & Company reissued an “outperform” rating and set a $109.00 target price (up previously from $88.00) on shares of Dycom Industries in a research report on Tuesday, November 21st. ValuEngine raised Dycom Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. Stifel Nicolaus raised their target price on Dycom Industries from $93.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Craig Hallum reissued a “buy” rating and set a $114.00 target price (up previously from $90.00) on shares of Dycom Industries in a research report on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $109.40.

Shares of Dycom Industries (DY) traded up $2.04 on Thursday, hitting $109.41. The stock had a trading volume of 675,472 shares, compared to its average volume of 642,909. The company has a quick ratio of 2.86, a current ratio of 3.16 and a debt-to-equity ratio of 1.07. The stock has a market cap of $3,321.90, a PE ratio of 23.44, a PEG ratio of 2.13 and a beta of 1.37. Dycom Industries has a fifty-two week low of $70.88 and a fifty-two week high of $110.64.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Monday, November 20th. The construction company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.09. Dycom Industries had a return on equity of 22.49% and a net margin of 4.46%. The business had revenue of $756.20 million during the quarter, compared to analysts’ expectations of $729.35 million. During the same quarter last year, the business posted $1.67 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. research analysts forecast that Dycom Industries will post 4.09 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its position in Dycom Industries by 0.3% during the second quarter. Alps Advisors Inc. now owns 5,126 shares of the construction company’s stock worth $459,000 after buying an additional 14 shares during the period. Teacher Retirement System of Texas increased its position in Dycom Industries by 1.8% during the second quarter. Teacher Retirement System of Texas now owns 2,526 shares of the construction company’s stock worth $226,000 after buying an additional 44 shares during the period. Public Employees Retirement System of Ohio increased its position in Dycom Industries by 6.6% during 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. Capstone Asset Management Co. increased its position in Dycom Industries by 3.8% during the second quarter. Capstone Asset Management Co. now owns 2,448 shares of the construction company’s stock worth $219,000 after buying an additional 90 shares during the period. Finally, Partnervest Advisory Services LLC increased its position in Dycom Industries by 2.8% during the second quarter. Partnervest Advisory Services LLC now owns 3,501 shares of the construction company’s stock worth $313,000 after buying an additional 95 shares during the period.

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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.

Analyst Recommendations for Dycom Industries (NYSE:DY)

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