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

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

Several other research analysts have also commented on the stock. UBS Group raised their price objective on shares of Dycom Industries from $175.00 to $200.00 and gave the company a buy rating in a research note on Thursday, May 23rd. Bank of America raised their price objective on shares of Dycom Industries from $160.00 to $198.00 and gave the company a buy rating in a research note on Wednesday, May 29th. KeyCorp raised their target price on shares of Dycom Industries from $169.00 to $179.00 and gave the company an overweight 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 company a buy rating in a report on Thursday, May 23rd. Finally, B. Riley raised their target price on shares of Dycom Industries from $172.00 to $205.00 and gave the company a buy rating in a report on Friday, May 31st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $195.29.

Dycom Industries Trading Up 0.1 %

Shares of DY stock opened at $178.06 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.17 and a quick ratio of 2.97. The firm has a market cap of $5.18 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 1.89 and a beta of 1.45. The company has a 50-day moving average of $174.45 and a two-hundred day moving average of $146.74. Dycom Industries has a 1-year low of $78.42 and a 1-year high of $186.47.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share for the quarter, topping 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 company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $1.73 earnings per share. Dycom Industries’s revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that Dycom Industries will post 8.02 EPS for the current year.

Insiders Place Their Bets

In other Dycom Industries news, VP Jason T. Lawson sold 856 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $174.48, for a total transaction of $149,354.88. Following the sale, the vice president now owns 6,937 shares of the company’s stock, valued at $1,210,367.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.28% of the stock is owned by corporate insiders.

Institutional Trading of Dycom Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Peconic Partners LLC increased its holdings in shares of Dycom Industries by 0.7% in the 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after acquiring an additional 21,635 shares during the period. Vanguard Group Inc. increased its holdings in shares of Dycom Industries by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock valued at $458,728,000 after acquiring an additional 12,395 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Dycom Industries by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,008,912 shares of the construction company’s stock valued at $116,117,000 after acquiring an additional 15,389 shares during the period. Charles Schwab Investment Management Inc. grew its position in Dycom Industries by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 418,969 shares of the construction company’s stock valued at $48,219,000 after buying an additional 18,063 shares during the last quarter. Finally, Norges Bank purchased a new position in Dycom Industries in the 4th quarter valued at $33,679,000. Institutional investors and hedge funds 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.