Dycom Industries (NYSE:DY) Downgraded to “Hold” at StockNews.com

StockNews.com downgraded shares of Dycom Industries (NYSE:DY) from a buy rating to a hold rating in a report published on Friday.

Several other research firms have also recently issued reports on DY. UBS Group lifted their price objective on shares of Dycom Industries from $175.00 to $200.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Bank of America lifted their price target on shares of Dycom Industries from $160.00 to $198.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. Raymond James raised their price objective on Dycom Industries from $143.00 to $195.00 and gave the stock a strong-buy rating in a report on Thursday, May 23rd. Craig Hallum raised their target price on shares of Dycom Industries from $145.00 to $190.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Dycom Industries from $165.00 to $175.00 and gave the company an overweight rating in a report on Monday, May 20th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Dycom Industries presently has a consensus rating of Buy and a consensus target price of $191.71.

Dycom Industries Trading Down 0.9 %

NYSE DY opened at $168.76 on Friday. Dycom Industries has a one year low of $78.42 and a one year high of $186.47. The firm has a 50 day simple moving average of $162.07 and a 200-day simple moving average of $137.67. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.82 and a beta of 1.48. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.97 and a current ratio of 3.17.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, May 22nd. The construction company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.73. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company earned $1.73 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Equities research analysts anticipate that Dycom Industries will post 7.96 EPS for the current fiscal year.

Institutional Trading of Dycom Industries

A number of institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Dycom Industries in the first quarter valued at $28,000. Headlands Technologies LLC acquired a new stake in shares of Dycom Industries during the 1st quarter worth about $72,000. Quadrant Capital Group LLC grew its holdings in shares of Dycom Industries by 26.4% during the fourth quarter. Quadrant Capital Group LLC now owns 770 shares of the construction company’s stock worth $89,000 after buying an additional 161 shares in the last quarter. Principal Securities Inc. acquired a new position in Dycom Industries in the 4th quarter valued at $142,000. Finally, Strs Ohio lifted its stake in shares of Dycom Industries by 50.0% during the 4th quarter. Strs Ohio now owns 1,500 shares of the construction company’s stock worth $172,000 after purchasing an additional 500 shares during the period. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.