Research Analysts’ Recent Ratings Changes for Dycom Industries (DY)

Several analysts have recently updated their ratings and price targets for Dycom Industries (NYSE: DY):

  • 8/14/2018 – Dycom Industries had its price target lowered by analysts at DA Davidson to $77.00. They now have a “neutral” rating on the stock.
  • 8/14/2018 – Dycom Industries was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating.
  • 8/14/2018 – Dycom Industries was given a new $85.00 price target on by analysts at Deutsche Bank AG. They now have a “buy” rating on the stock.
  • 8/14/2018 – Dycom Industries had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $90.00 price target on the stock, down previously from $120.00.
  • 8/13/2018 – Dycom Industries was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 8/13/2018 – Dycom Industries was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating. They now have a $75.00 price target on the stock, down previously from $120.00.
  • 8/6/2018 – Dycom Industries was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Going forward, favorable industry trends like surging demand for 1-gigabit deployment, huge investment in wireline networks and cable capacity bodes well for Dycom. Also, the company’s earnings estimates have moved north in the past 30 days. However, over the past six months, the company’s shares have significantly underperformed the industry average. Initiations of large-scale network deployments, particularly those occurring during periods of customer M&A activity, remain vulnerable to timing uncertainty. Also, the company’s margins will likely suffer due to timing volatility, customer spending modulations and under absorption of labor and field costs. Moreover, the company slashed guidance for fiscal 2019. This apart, stiff competition as well as the dynamic nature of the U.S. telecommunications industry poses as headwinds for the company.”

Shares of DY opened at $73.57 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.39 and a quick ratio of 3.09. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 1.57 and a beta of 1.29. Dycom Industries, Inc. has a 52 week low of $67.15 and a 52 week high of $123.99.

Dycom Industries (NYSE:DY) last issued 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). The company had revenue of $731.40 million for the quarter, compared to the consensus estimate of $734.89 million. Dycom Industries had a return on equity of 14.59% and a net margin of 4.44%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 earnings per share. analysts expect that Dycom Industries, Inc. will post 4.63 EPS for the current year.



In related news, Director Richard K. Sykes acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, May 30th. The stock was purchased at an average cost of $94.81 per share, with a total value 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.39% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new position in shares of Dycom Industries in the first quarter valued at approximately $114,000. CenterStar Asset Management LLC grew its holdings in shares of Dycom Industries by 1,933.8% in the second quarter. CenterStar Asset Management LLC now owns 1,322 shares of the construction company’s stock valued at $125,000 after acquiring an additional 1,257 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Dycom Industries in the second quarter valued at approximately $189,000. Hilltop Holdings Inc. bought a new position in shares of Dycom Industries in the first quarter valued at approximately $215,000. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Dycom Industries by 388.9% in the second quarter. Point72 Hong Kong Ltd now owns 2,283 shares of the construction company’s stock valued at $216,000 after acquiring an additional 1,816 shares in the last quarter.

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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