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

Dycom Industries (NYSE:DY) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other research analysts have also recently commented on DY. Bank of America upped their price objective on Dycom Industries from $160.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Raymond James upped their price objective on Dycom Industries from $143.00 to $195.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 23rd. Craig Hallum upped their price objective on Dycom Industries from $145.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. UBS Group increased their price target on Dycom Industries from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, B. Riley increased their price target on Dycom Industries from $172.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. 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’s stock. According to MarketBeat, Dycom Industries has an average rating of “Buy” and a consensus target price of $191.71.

Dycom Industries Price Performance

Shares of Dycom Industries stock opened at $174.76 on Wednesday. Dycom Industries has a twelve month low of $78.42 and a twelve month high of $186.47. The stock 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. The company has a current ratio of 3.17, a quick ratio of 2.97 and a debt-to-equity ratio of 0.78. The business’s fifty day moving average price is $167.55 and its 200 day moving average price is $140.95.

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

Institutional Trading of Dycom Industries

A number of hedge funds have recently modified their holdings of the business. US Bancorp DE raised its holdings in shares of Dycom Industries by 109.3% during the fourth quarter. US Bancorp DE now owns 14,623 shares of the construction company’s stock worth $1,683,000 after acquiring an additional 7,638 shares in the last quarter. Cubic Asset Management LLC increased its position in Dycom Industries by 171.6% during the fourth quarter. Cubic Asset Management LLC now owns 11,882 shares of the construction company’s stock worth $1,367,000 after buying an additional 7,507 shares during the last quarter. Vanguard Group Inc. increased its position in Dycom Industries by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock worth $366,406,000 after buying an additional 42,121 shares during the last quarter. Peconic Partners LLC increased its position in Dycom Industries by 0.7% during the fourth quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock worth $375,847,000 after buying an additional 21,635 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Dycom Industries during the fourth quarter worth $6,623,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

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.