Dycom Industries’ (DY) Buy Rating Reaffirmed at DA Davidson

Dycom Industries (NYSE:DY)‘s stock had its “buy” rating restated by research analysts at DA Davidson in a research note issued on Tuesday,Benzinga reports. They currently have a $210.00 price target on the construction company’s stock. DA Davidson’s price target would indicate a potential upside of 3.56% from the stock’s current price.

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

Dycom Industries Stock Up 3.6 %

Shares of DY traded up $6.96 during mid-day trading on Tuesday, hitting $202.79. 607,946 shares of the company’s stock were exchanged, compared to its average volume of 294,461. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25. Dycom Industries has a 52 week low of $84.83 and a 52 week high of $207.20. The company has a market cap of $5.90 billion, a PE ratio of 25.19, a P/E/G ratio of 1.55 and a beta of 1.44. The company has a 50-day simple moving average of $188.73 and a 200 day simple moving average of $178.01.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.20. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm posted $2.03 EPS. The company’s quarterly revenue was up 15.5% on a year-over-year basis. On average, research analysts forecast that Dycom Industries will post 7.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ironwood Investment Management LLC increased its holdings in shares of Dycom Industries by 0.4% during the second quarter. Ironwood Investment Management LLC now owns 14,625 shares of the construction company’s stock worth $2,468,000 after buying an additional 58 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Dycom Industries by 25.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock valued at $57,000 after buying an additional 59 shares during the last quarter. Anchor Investment Management LLC boosted its position in Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after buying an additional 65 shares during the period. Somerset Trust Co grew its stake in shares of Dycom Industries by 1.6% in the second quarter. Somerset Trust Co now owns 4,448 shares of the construction company’s stock worth $751,000 after purchasing an additional 68 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Dycom Industries by 4.5% in the third quarter. HighTower Advisors LLC now owns 1,858 shares of the construction company’s stock valued at $366,000 after purchasing an additional 80 shares during the period. Institutional investors own 98.33% of the company’s stock.

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.