Investors Sell Shares of Dycom Industries Inc. (DY) on Strength (DY)
Traders sold shares of Dycom Industries Inc. (NYSE:DY) on strength during trading on Friday. $19.54 million flowed into the stock on the tick-up and $37.41 million flowed out of the stock on the tick-down, for a money net flow of $17.87 million out of the stock. Of all stocks tracked, Dycom Industries had the 0th highest net out-flow for the day. Dycom Industries traded up $0.19 for the day and closed at $87.94
A number of equities analysts have recently issued reports on DY shares. Vetr downgraded Dycom Industries from a “hold” rating to a “sell” rating and set a $90.92 price objective for the company. in a research report on Monday, August 8th. FBR & Co restated a “buy” rating on shares of Dycom Industries in a research report on Thursday, May 26th. Canaccord Genuity restated a “buy” rating and set a $92.00 price objective on shares of Dycom Industries in a research report on Wednesday, May 25th. Stifel Nicolaus restated a “buy” rating and set a $86.00 price objective (up from $80.00) on shares of Dycom Industries in a research report on Friday, May 20th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Dycom Industries in a research report on Sunday, June 5th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $91.37.
The company’s 50 day moving average price is $92.39 and its 200 day moving average price is $74.71. The stock has a market capitalization of $2.76 billion and a PE ratio of 26.27.
Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Tuesday, May 24th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.34. The firm earned $664.60 million during the quarter, compared to analysts’ expectations of $597.78 million. Dycom Industries’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 earnings per share. Equities analysts expect that Dycom Industries Inc. will post $4.40 EPS for the current fiscal year.
In other news, VP Richard B. Vilsoet sold 28,642 shares of the company’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $93.56, for a total value of $2,679,745.52. Following the completion of the transaction, the vice president now directly owns 49,307 shares in the company, valued at approximately $4,613,162.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Timothy R. Estes sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $96.03, for a total value of $960,300.00. Following the completion of the transaction, the chief operating officer now owns 233,812 shares of the company’s stock, valued at $22,452,966.36. The disclosure for this sale can be found here.
Other institutional investors have recently bought and sold shares of the company. Russell Frank Co boosted its position in Dycom Industries by 88.7% in the fourth quarter. Russell Frank Co now owns 38,945 shares of the company’s stock worth $2,727,000 after buying an additional 18,301 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in Dycom Industries by 157.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 30,601 shares of the company’s stock worth $2,141,000 after buying an additional 18,701 shares during the period. Redwood Investments LLC raised its stake in Dycom Industries by 21.8% in the fourth quarter. Redwood Investments LLC now owns 30,121 shares of the company’s stock worth $2,107,000 after buying an additional 5,401 shares during the period. Systematic Financial Management LP raised its stake in Dycom Industries by 15.5% in the fourth quarter. Systematic Financial Management LP now owns 46,020 shares of the company’s stock worth $3,219,000 after buying an additional 6,165 shares during the period. Finally, Trexquant Investment LP bought a new stake in Dycom Industries during the fourth quarter worth $1,511,000.
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.