Dycom Industries Inc. (NYSE:DY) was down 7.5% on Wednesday . The company traded as low as $84.00 and last traded at $85.03, with a volume of 1,924,017 shares traded. The stock had previously closed at $91.94.

A number of equities research analysts have commented on DY shares. Vetr lowered Dycom Industries from a “hold” rating to a “sell” rating and set a $90.92 price target on the stock. in a research report on Monday, August 8th. FBR & Co reiterated a “buy” rating on shares of Dycom Industries in a research report on Thursday, May 26th. Canaccord Genuity reiterated a “buy” rating and issued a $92.00 price target on shares of Dycom Industries in a research report on Wednesday, May 25th. Zacks Investment Research upgraded Dycom Industries from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Thursday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 price target (up previously from $80.00) on shares of Dycom Industries in a research report on Friday, May 20th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $97.11.

The stock has a market cap of $2.62 billion and a price-to-earnings ratio of 25.00. The firm has a 50-day moving average price of $92.14 and a 200-day moving average price of $75.53.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $1.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.09. During the same quarter in the previous year, the business earned $0.97 EPS. The firm had revenue of $789.16 million for the quarter, compared to analysts’ expectations of $770.66 million. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. On average, analysts anticipate that Dycom Industries Inc. will post $5.31 earnings per share for the current year.

In other Dycom Industries news, COO Timothy R. Estes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $96.03, for a total transaction of $960,300.00. Following the sale, the chief operating officer now owns 233,812 shares in the company, valued at $22,452,966.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard B. Vilsoet sold 28,642 shares of the firm’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $93.56, for a total value of $2,679,745.52. Following the sale, the vice president now owns 49,307 shares in the company, valued at approximately $4,613,162.92. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Dycom Industries stock. Wells Fargo & Company MN boosted its position in shares of Dycom Industries Inc. (NYSE:DY) by 241.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 249,079 shares of the company’s stock after buying an additional 176,025 shares during the period. Wells Fargo & Company MN owned 0.77% of Dycom Industries worth $17,426,000 as of its most recent SEC filing.

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.

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