Dycom Industries (NYSE:DY) Upgraded to “Buy” at StockNews.com

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

Other analysts have also recently issued reports about the stock. UBS Group decreased their price objective on shares of Dycom Industries from $132.00 to $127.00 and set a buy rating for the company in a research note on Monday, August 21st. Wells Fargo & Company lifted their target price on shares of Dycom Industries from $115.00 to $120.00 and gave the company an overweight rating in a report on Thursday, August 24th. DA Davidson reaffirmed a buy rating on shares of Dycom Industries in a report on Wednesday, May 31st. B. Riley reaffirmed a neutral rating and set a $111.00 target price on shares of Dycom Industries in a report on Thursday, August 24th. Finally, Raymond James started coverage on shares of Dycom Industries in a report on Wednesday, May 31st. They set an outperform rating and a $120.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Dycom Industries presently has an average rating of Moderate Buy and an average target price of $120.40.

Dycom Industries Trading Down 0.8 %

NYSE DY opened at $96.16 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.13 and a current ratio of 3.38. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 15.05 and a beta of 1.32. The company’s 50-day simple moving average is $100.05 and its two-hundred day simple moving average is $99.63. Dycom Industries has a one year low of $77.33 and a one year high of $122.13.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, August 23rd. The construction company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.37. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Dycom Industries had a net margin of 4.71% and a return on equity of 20.89%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $1.46 EPS. Equities analysts forecast that Dycom Industries will post 6.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. VitalStone Financial LLC acquired a new position in Dycom Industries in the second quarter valued at about $1,205,000. Osaic Holdings Inc. increased its stake in Dycom Industries by 18.9% during the second quarter. Osaic Holdings Inc. now owns 2,380 shares of the construction company’s stock worth $270,000 after purchasing an additional 378 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Dycom Industries by 17.6% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 10,000 shares of the construction company’s stock worth $1,136,000 after purchasing an additional 1,494 shares during the period. Wells Fargo & Company MN increased its stake in Dycom Industries by 27.3% during the second quarter. Wells Fargo & Company MN now owns 58,065 shares of the construction company’s stock worth $6,599,000 after purchasing an additional 12,460 shares during the period. Finally, State of Tennessee Treasury Department increased its stake in Dycom Industries by 58.3% during the second quarter. State of Tennessee Treasury Department now owns 15,841 shares of the construction company’s stock worth $1,800,000 after purchasing an additional 5,836 shares during the period. Institutional investors and hedge funds own 98.43% 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.