Dycom Industries (NYSE:DY) Downgraded by StockNews.com

StockNews.com cut shares of Dycom Industries (NYSE:DY) from a buy rating to a hold rating in a research note issued to investors on Friday.

Other equities research analysts have also recently issued research reports about the company. KeyCorp lifted their price target on Dycom Industries from $169.00 to $179.00 and gave the company an overweight rating in a report on Thursday, May 23rd. UBS Group upped their price objective on shares of Dycom Industries from $175.00 to $200.00 and gave the stock a buy 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 research note on Thursday, May 23rd. Bank of America boosted their target price on Dycom Industries from $160.00 to $198.00 and gave the stock a buy rating in a report on Wednesday, May 29th. Finally, Raymond James raised their target price on Dycom Industries from $143.00 to $195.00 and gave the company a strong-buy rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $191.71.

Dycom Industries Stock Down 0.9 %

DY stock opened at $168.76 on Friday. The company has a market capitalization of $4.91 billion, a P/E ratio of 21.75, a PEG ratio of 1.82 and a beta of 1.48. The company has a current ratio of 3.17, a quick ratio of 2.97 and a debt-to-equity ratio of 0.78. Dycom Industries has a twelve month low of $78.42 and a twelve month high of $186.47. The firm has a 50 day simple moving average of $162.07 and a 200-day simple moving average of $137.67.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, May 22nd. The construction company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.73. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. On average, equities research analysts predict that Dycom Industries will post 7.96 earnings per share for the current fiscal year.

Institutional Trading of Dycom Industries

Several hedge funds and other institutional investors have recently modified their holdings of the business. Burney Co. acquired a new stake in shares of Dycom Industries during the first quarter worth approximately $415,000. Tidal Investments LLC boosted its position in Dycom Industries by 202.6% during the first quarter. Tidal Investments LLC now owns 10,835 shares of the construction company’s stock valued at $1,555,000 after purchasing an additional 7,254 shares during the last quarter. Interval Partners LP purchased a new position in Dycom Industries in the first quarter valued at about $5,247,000. Janus Henderson Group PLC grew its stake in shares of Dycom Industries by 168.5% in the 1st quarter. Janus Henderson Group PLC now owns 36,835 shares of the construction company’s stock valued at $5,287,000 after buying an additional 23,117 shares in the last quarter. Finally, Appian Way Asset Management LP increased its holdings in Dycom Industries by 84.2% in the first quarter. Appian Way Asset Management LP now owns 197,364 shares of the construction company’s stock worth $28,328,000 after buying an additional 90,198 shares during the last quarter. 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.