Dycom Industries (DY) Receives Buy Rating from Canaccord Genuity

Canaccord Genuity reissued their buy rating on shares of Dycom Industries (NYSE:DY) in a report released on Tuesday, Marketbeat reports. The firm currently has a $90.00 target price on the construction company’s stock, down from their prior target price of $120.00.

A number of other research firms have also recently commented on DY. Zacks Investment Research upgraded Dycom Industries from a hold rating to a buy rating and set a $116.00 price objective on the stock in a report on Tuesday, May 1st. B. Riley decreased their price objective on Dycom Industries from $137.00 to $120.00 and set a buy rating on the stock in a report on Wednesday, May 23rd. Craig Hallum decreased their price objective on Dycom Industries from $129.00 to $100.00 and set a buy rating on the stock in a report on Wednesday, May 23rd. Stifel Nicolaus decreased their price objective on Dycom Industries from $126.00 to $117.00 and set a buy rating on the stock in a report on Wednesday, May 23rd. Finally, ValuEngine cut Dycom Industries from a hold rating to a sell rating in a report on Tuesday, May 22nd. Two investment 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. The stock has a consensus rating of Hold and an average target price of $104.45.

DY traded down $2.23 during trading hours on Tuesday, reaching $71.34. The company’s stock had a trading volume of 4,188 shares, compared to its average volume of 551,046. Dycom Industries has a fifty-two week low of $67.15 and a fifty-two week high of $123.99. The stock has a market capitalization of $2.80 billion, a PE 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 data on Tuesday, May 22nd. The construction company reported $0.65 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 business had revenue of $731.40 million during the quarter, compared to analyst estimates of $734.89 million. During the same quarter in the prior year, the company posted $1.30 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis. equities research analysts forecast that Dycom Industries will post 4.63 earnings per share for the current fiscal year.

In other news, Director Richard K. Sykes purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, May 30th. The shares were bought at an average cost of $94.81 per share, for a total transaction of $189,620.00. Following the completion of the purchase, the director now directly owns 3,934 shares of the company’s stock, valued at $372,982.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.39% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new stake in shares of Dycom Industries in the second quarter valued at $575,000. Tower Research Capital LLC TRC raised its stake in shares of Dycom Industries by 230.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,650 shares of the construction company’s stock valued at $345,000 after acquiring an additional 2,545 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Dycom Industries in the second quarter valued at $1,156,000. Macquarie Group Ltd. raised its stake in shares of Dycom Industries by 19.0% in the second quarter. Macquarie Group Ltd. now owns 15,645 shares of the construction company’s stock valued at $1,479,000 after acquiring an additional 2,498 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of Dycom Industries by 18.8% in the second quarter. Sterling Capital Management LLC now owns 24,768 shares of the construction company’s stock valued at $2,341,000 after acquiring an additional 3,914 shares in the last quarter.

About Dycom Industries

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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