Dycom Industries, Inc. (NYSE:DY) Receives Average Rating of “Buy” from Brokerages

Shares of Dycom Industries, Inc. (NYSE:DY) have been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $199.57.

Several equities analysts have weighed in on DY shares. StockNews.com downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. B. Riley lifted their price objective on Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company increased their target price on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Bank of America boosted their price target on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, KeyCorp increased their price objective on Dycom Industries from $195.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd.

Insider Activity at Dycom Industries

In other news, VP Jason T. Lawson sold 856 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $174.48, for a total transaction of $149,354.88. Following the transaction, the vice president now directly owns 6,937 shares in the company, valued at approximately $1,210,367.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Dycom Industries in the 1st quarter worth about $28,000. Anchor Investment Management LLC grew its stake in Dycom Industries by 50.4% during the second 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. GAMMA Investing LLC increased its position in shares of Dycom Industries by 107.8% in the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock worth $49,000 after acquiring an additional 152 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Dycom Industries by 5,071.4% in the 2nd quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company’s stock valued at $61,000 after acquiring an additional 355 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Dycom Industries by 196.7% during the 2nd quarter. Signaturefd LLC now owns 359 shares of the construction company’s stock valued at $61,000 after acquiring an additional 238 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Trading Down 2.5 %

Shares of DY stock opened at $192.18 on Friday. The business’s fifty day moving average price is $182.32 and its 200 day moving average price is $166.49. The firm has a market capitalization of $5.59 billion, a PE ratio of 24.77, a P/E/G ratio of 2.09 and a beta of 1.41. 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 1-year low of $78.42 and a 1-year high of $199.77.

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 the consensus estimate of $2.26 by $0.20. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business earned $2.03 earnings per share. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Dycom Industries will post 8.02 EPS for the current fiscal year.

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.