Zacks Investment Research upgraded shares of Dycom Industries (NYSE:DY) from a sell rating to a hold rating in a research report released on Thursday morning.

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.”

DY has been the subject of several other research reports. FBR & Co upped their price target on Dycom Industries from $98.00 to $112.00 and gave the stock a buy rating in a research note on Wednesday, August 30th. ValuEngine upgraded Dycom Industries from a hold rating to a buy rating in a research note on Wednesday, November 22nd. DA Davidson upped their price target on Dycom Industries to $100.00 and gave the stock a neutral rating in a research note on Tuesday, November 21st. Stephens upped their price target on Dycom Industries from $105.00 to $120.00 and gave the stock an overweight rating in a research note on Thursday, November 16th. Finally, Stifel Nicolaus upped their price target on Dycom Industries from $93.00 to $120.00 and gave the stock a buy rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $109.40.

Shares of Dycom Industries (DY) traded up $2.04 during trading on Thursday, hitting $109.41. The stock had a trading volume of 675,472 shares, compared to its average volume of 674,240. Dycom Industries has a 1-year low of $70.88 and a 1-year high of $110.64. The firm has a market capitalization of $3,390.00, a P/E ratio of 23.03, a PEG ratio of 2.07 and a beta of 1.27. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.86 and a current ratio of 3.16.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Monday, November 20th. The construction company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.09. The business had revenue of $756.20 million during the quarter, compared to the consensus estimate of $729.35 million. Dycom Industries had a return on equity of 22.49% and a net margin of 4.46%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.67 earnings per share. analysts forecast that Dycom Industries will post 4.13 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Moors & Cabot Inc. purchased a new position in Dycom Industries in the third quarter worth $249,000. Sterling Capital Management LLC raised its position in Dycom Industries by 15.8% in the third quarter. Sterling Capital Management LLC now owns 30,388 shares of the construction company’s stock worth $2,610,000 after acquiring an additional 4,148 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in Dycom Industries in the third quarter worth $2,426,000. First Allied Advisory Services Inc. raised its position in Dycom Industries by 8.1% in the third quarter. First Allied Advisory Services Inc. now owns 8,841 shares of the construction company’s stock worth $759,000 after acquiring an additional 666 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in Dycom Industries in the third quarter worth $6,264,000.

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Dycom Industries Company Profile

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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