Dycom Industries, Inc. (NYSE:DY) Receives Average Rating of “Buy” from Brokerages

Shares of Dycom Industries, Inc. (NYSE:DY) have been given an average recommendation of “Buy” by the seven analysts that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $135.50.

A number of analysts have commented on the stock. B. Riley raised shares of Dycom Industries from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $101.00 to $172.00 in a report on Friday, March 8th. KeyCorp upped their price objective on Dycom Industries from $136.00 to $149.00 and gave the company an “overweight” rating in a report on Thursday, February 29th.

Insiders Place Their Bets

In related news, VP Jason T. Lawson sold 220 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the sale, the vice president now directly owns 7,793 shares of the company’s stock, valued at approximately $1,093,124.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DY. SG Americas Securities LLC bought a new stake in Dycom Industries in the 3rd quarter valued at approximately $1,100,000. Callahan Advisors LLC bought a new stake in shares of Dycom Industries in the third quarter worth $1,280,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Dycom Industries by 15.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,592 shares of the construction company’s stock worth $765,000 after purchasing an additional 1,118 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Dycom Industries by 8.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,829 shares of the construction company’s stock worth $14,937,000 after buying an additional 13,395 shares in the last quarter. Finally, Inspire Advisors LLC acquired a new position in shares of Dycom Industries during the 3rd quarter worth about $620,000. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Trading Up 2.8 %

DY stock opened at $144.03 on Tuesday. The business has a fifty day moving average of $138.19 and a 200-day moving average of $116.49. The company has a market cap of $4.19 billion, a P/E ratio of 19.54, a PEG ratio of 0.82 and a beta of 1.37. Dycom Industries has a twelve month low of $78.42 and a twelve month high of $146.32. The company has a quick ratio of 2.85, a current ratio of 3.06 and a debt-to-equity ratio of 0.75.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, February 28th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.15). The business had revenue of $952.50 million for the quarter, compared to analyst estimates of $968.87 million. Dycom Industries had a net margin of 5.24% and a return on equity of 22.06%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. As a group, equities research analysts expect that Dycom Industries will post 7.14 EPS for the current year.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.