Dycom Industries’ (DY) “Buy” Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of Dycom Industries (NYSE:DY) in a research report released on Tuesday,Benzinga reports. DA Davidson currently has a $210.00 price target on the construction company’s stock.

A number of other analysts have also recently commented on the company. B. Riley upped their price target on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Bank of America increased their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. KeyCorp lifted their target price on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company increased their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $206.13.

Dycom Industries Stock Performance

Shares of DY stock opened at $182.59 on Tuesday. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.44. Dycom Industries has a one year low of $99.54 and a one year high of $207.20. The company’s 50-day moving average is $189.40 and its 200 day moving average is $178.80.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.26 by $0.20. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. Dycom Industries’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the company earned $2.03 EPS. Sell-side analysts expect that Dycom Industries will post 7.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors have recently modified their holdings of the stock. Accent Capital Management LLC bought a new stake in Dycom Industries during the 3rd quarter valued at $25,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Dycom Industries in the first quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in Dycom Industries during the 3rd quarter worth about $28,000. Annapolis Financial Services LLC purchased a new position in Dycom Industries during the 3rd quarter valued at about $29,000. Finally, Anchor Investment Management LLC raised its holdings in shares of Dycom Industries by 50.4% in the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. 98.33% of the stock is 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.