Dycom Industries (DY) Rating Lowered to Strong Sell at ValuEngine

Dycom Industries (NYSE:DY) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Monday.

A number of other equities research analysts have also recently issued reports on DY. Zacks Investment Research cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 24th. B. Riley dropped their price target on shares of Dycom Industries from $137.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, May 23rd. Craig Hallum dropped their price target on shares of Dycom Industries from $129.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 23rd. Stifel Nicolaus dropped their price target on shares of Dycom Industries from $126.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, May 23rd. Finally, KeyCorp decreased their price objective on Dycom Industries from $123.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, May 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Dycom Industries currently has an average rating of “Hold” and an average price target of $104.45.

Dycom Industries stock opened at $73.57 on Monday. Dycom Industries has a 1 year low of $67.15 and a 1 year high of $123.99. The firm has a market capitalization of $2.80 billion, a P/E ratio of 27.77, a P/E/G ratio of 1.57 and a beta of 1.29. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.09 and a current ratio of 3.39.



Dycom Industries (NYSE:DY) last released its quarterly earnings results on Tuesday, May 22nd. The construction company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). Dycom Industries had a net margin of 4.44% and a return on equity of 14.59%. The company had revenue of $731.40 million during the quarter, compared to analyst estimates of $734.89 million. During the same period in the prior year, the business posted $1.30 EPS. Dycom Industries’s revenue was down 7.0% compared to the same quarter last year. analysts forecast that Dycom Industries will post 4.63 EPS for the current year.

In other news, Director Richard K. Sykes acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, May 30th. The shares were bought at an average price of $94.81 per share, for a total transaction of $189,620.00. Following the acquisition, the director now owns 3,934 shares of the company’s stock, valued at approximately $372,982.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.39% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale purchased a new position in shares of Dycom Industries during the 1st quarter worth $114,000. CenterStar Asset Management LLC raised its holdings in shares of Dycom Industries by 1,933.8% during the 2nd quarter. CenterStar Asset Management LLC now owns 1,322 shares of the construction company’s stock worth $125,000 after acquiring an additional 1,257 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Dycom Industries during the 2nd quarter worth $189,000. Hilltop Holdings Inc. purchased a new position in shares of Dycom Industries during the 1st quarter worth $215,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Dycom Industries during the 1st quarter worth $245,000.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services in the United States and Canada. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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Analyst Recommendations for Dycom Industries (NYSE:DY)

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