Traders Sell Shares of Dycom Industries Inc. (DY) on Strength (DY)
Investors sold shares of Dycom Industries Inc. (NYSE:DY) on strength during trading hours 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 weighed in on the stock. Vetr lowered shares of Dycom Industries from a “hold” rating to a “sell” rating and set a $83.72 price target on the stock. in a report on Wednesday, June 22nd. FBR & Co reissued a “buy” rating on shares of Dycom Industries in a research note on Wednesday, April 27th. Zacks Investment Research raised shares of Dycom Industries from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Tuesday, May 17th. Canaccord Genuity raised their target price on shares of Dycom Industries from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, May 11th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Dycom Industries in a research note on Sunday, June 5th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $91.37.
The stock has a 50 day moving average of $92.39 and a 200-day moving average of $74.71. The stock has a market cap of $2.76 billion and a PE ratio of 26.27.
Dycom Industries (NYSE:DY) last issued its earnings results on Tuesday, May 24th. The company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.34. The business had revenue of $664.60 million for the quarter, compared to analyst estimates of $597.78 million. During the same period in the previous year, the firm posted $0.58 EPS. The firm’s revenue was up 35.0% compared to the same quarter last year. On average, analysts expect that Dycom Industries Inc. will post $4.40 earnings per share for the current fiscal year.
In other Dycom Industries news, Director Charles B. Coe sold 26,897 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $89.90, for a total transaction of $2,418,040.30. Following the completion of the transaction, the director now owns 69,290 shares of the company’s stock, valued at $6,229,171. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard B. Vilsoet sold 28,642 shares of the business’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 transaction, the vice president now directly owns 49,307 shares of the company’s stock, valued at approximately $4,613,162.92. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of Dycom Industries by 241.0% in the fourth quarter. Wells Fargo & Company MN now owns 249,079 shares of the company’s stock valued at $17,426,000 after buying an additional 176,025 shares during the last quarter. Trexquant Investment LP purchased a new stake in Dycom Industries during the fourth quarter valued at $1,511,000. Cornerstone Capital Management Holdings LLC. boosted 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 valued at $2,141,000 after buying an additional 18,701 shares during the period. Russell Frank Co boosted its stake in Dycom Industries by 88.7% in the fourth quarter. Russell Frank Co now owns 38,945 shares of the company’s stock valued at $2,727,000 after buying an additional 18,301 shares during the period. Finally, Redwood Investments LLC boosted 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 valued at $2,107,000 after buying an additional 5,401 shares during the period.
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.