Dycom Industries (NYSE:DY) Rating Lowered to Hold at StockNews.com

Dycom Industries (NYSE:DY) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other equities research analysts have also recently weighed in on DY. Raymond James increased their price objective on shares of Dycom Industries from $143.00 to $195.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 23rd. Craig Hallum increased their price objective 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. Bank of America increased their price objective on shares of Dycom Industries from $160.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. UBS Group increased 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. Finally, KeyCorp raised their price target on shares of Dycom Industries from $169.00 to $179.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $191.71.

Dycom Industries Price Performance

DY stock opened at $174.76 on Wednesday. The company has a fifty day moving average price of $167.55 and a 200-day moving average price of $140.95. The company has a market capitalization of $5.08 billion, a P/E ratio of 22.52, a PEG ratio of 1.83 and a beta of 1.45. Dycom Industries has a 52-week low of $78.42 and a 52-week high of $186.47. 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 released its quarterly earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.73. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities analysts expect that Dycom Industries will post 7.96 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DY. Allspring Global Investments Holdings LLC bought a new position in shares of Dycom Industries during the first quarter valued at about $28,000. GAMMA Investing LLC raised its position in Dycom Industries by 107.8% in the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock worth $49,000 after acquiring an additional 152 shares during the period. Headlands Technologies LLC bought a new stake in Dycom Industries in the first quarter worth about $72,000. Quadrant Capital Group LLC raised its position in Dycom Industries by 26.4% in the fourth quarter. Quadrant Capital Group LLC now owns 770 shares of the construction company’s stock worth $89,000 after acquiring an additional 161 shares during the period. Finally, Principal Securities Inc. bought a new stake in Dycom Industries in the fourth quarter worth about $142,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

About Dycom Industries

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.