Dycom Industries’ (DY) “Buy” Rating Reaffirmed at Stifel Nicolaus
Stifel Nicolaus reaffirmed their buy rating on shares of Dycom Industries (NYSE:DY) in a report issued on Monday morning. They currently have a $126.00 price target on the construction company’s stock, up from their prior price target of $120.00.
A number of other brokerages have also commented on DY. BidaskClub lowered Dycom Industries from a hold rating to a sell rating in a research note on Tuesday, August 22nd. Deutsche Bank assumed coverage on Dycom Industries in a research note on Tuesday, September 26th. They issued a buy rating and a $103.00 target price for the company. Craig Hallum restated a buy rating and issued a $114.00 target price (up from $90.00) on shares of Dycom Industries in a research note on Tuesday, November 21st. Canaccord Genuity cut their target price on Dycom Industries from $120.00 to $110.00 and set a buy rating for the company in a research note on Thursday, August 31st. Finally, B. Riley restated a buy rating on shares of Dycom Industries in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. Dycom Industries presently has an average rating of Buy and an average target price of $110.00.
Shares of Dycom Industries (DY) traded up $0.60 during mid-day trading on Monday, hitting $110.17. The stock had a trading volume of 541,900 shares, compared to its average volume of 671,052. Dycom Industries has a one year low of $73.95 and a one year high of $113.30. The firm has a market capitalization of $3,389.96, a price-to-earnings ratio of 23.92, a PEG ratio of 2.17 and a beta of 1.38. The company has a current ratio of 3.16, a quick ratio of 2.86 and a debt-to-equity ratio of 1.07.
Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Monday, November 20th. The construction company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.09. Dycom Industries had a return on equity of 22.49% and a net margin of 4.46%. The company had revenue of $756.20 million during the quarter, compared to analyst estimates of $729.35 million. During the same period in the previous year, the company earned $1.67 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. equities analysts expect that Dycom Industries will post 4.09 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Thompson Siegel & Walmsley LLC acquired a new position in Dycom Industries during the second quarter worth $26,385,000. Columbus Circle Investors raised its stake in Dycom Industries by 141.6% during the second quarter. Columbus Circle Investors now owns 451,063 shares of the construction company’s stock worth $40,379,000 after acquiring an additional 264,353 shares in the last quarter. Scout Investments Inc. raised its stake in Dycom Industries by 407.6% during the second quarter. Scout Investments Inc. now owns 288,107 shares of the construction company’s stock worth $25,791,000 after acquiring an additional 231,345 shares in the last quarter. SG Capital Management LLC acquired a new position in Dycom Industries during the third quarter worth $15,925,000. Finally, Federated Investors Inc. PA raised its stake in Dycom Industries by 24.1% during the second quarter. Federated Investors Inc. PA now owns 816,246 shares of the construction company’s stock worth $73,070,000 after acquiring an additional 158,312 shares in the last quarter.
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About Dycom Industries
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.
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