Dycom Industries, Inc. (NYSE:DY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Dycom Industries, Inc. (NYSE:DY – Get Rating) have received a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $125.80.

DY has been the subject of a number of analyst reports. Craig Hallum upped their price objective on Dycom Industries from $110.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. StockNews.com began coverage on Dycom Industries in a research note on Thursday, March 16th. They issued a “buy” rating for the company. UBS Group increased their price target on Dycom Industries from $124.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. Finally, Wells Fargo & Company increased their price target on Dycom Industries from $88.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, March 2nd.

Insider Activity

In other news, CFO H Andrew Deferrari sold 10,282 shares of the stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $94.11, for a total value of $967,639.02. Following the transaction, the chief financial officer now directly owns 148,425 shares of the company’s stock, valued at $13,968,276.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Ryan F. Urness sold 3,300 shares of the stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $94.90, for a total value of $313,170.00. Following the transaction, the vice president now directly owns 26,242 shares of the company’s stock, valued at $2,490,365.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO H Andrew Deferrari sold 10,282 shares of the stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $94.11, for a total value of $967,639.02. Following the completion of the transaction, the chief financial officer now directly owns 148,425 shares in the company, valued at $13,968,276.75. The disclosure for this sale can be found here. Corporate insiders own 4.25% of the company’s stock.

Institutional Trading of Dycom Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Dycom Industries by 40.1% during the first quarter. BlackRock Inc. now owns 4,639,633 shares of the construction company’s stock worth $434,502,000 after acquiring an additional 1,327,595 shares during the period. Vanguard Group Inc. grew its holdings in Dycom Industries by 0.7% during the third quarter. Vanguard Group Inc. now owns 2,753,480 shares of the construction company’s stock worth $263,040,000 after acquiring an additional 18,125 shares during the period. Peconic Partners LLC grew its holdings in Dycom Industries by 8.8% during the third quarter. Peconic Partners LLC now owns 2,481,987 shares of the construction company’s stock worth $237,104,000 after acquiring an additional 199,950 shares during the period. Alliancebernstein L.P. grew its holdings in Dycom Industries by 43.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,728,780 shares of the construction company’s stock worth $161,814,000 after acquiring an additional 524,292 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Dycom Industries by 9.2% in the first quarter. Principal Financial Group Inc. now owns 1,140,281 shares of the construction company’s stock valued at $106,787,000 after purchasing an additional 96,268 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Trading Up 2.6 %

Shares of NYSE DY opened at $98.91 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.18 and a quick ratio of 2.93. The stock has a market capitalization of $2.90 billion, a P/E ratio of 20.87 and a beta of 1.30. Dycom Industries has a 1-year low of $77.03 and a 1-year high of $122.13. The business has a fifty day moving average price of $93.92 and a 200 day moving average price of $94.38.

Dycom Industries (NYSE:DY – Get Rating) last issued its quarterly earnings data on Wednesday, March 1st. The construction company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.66. The firm had revenue of $917.50 million during the quarter, compared to analysts’ expectations of $815.89 million. Dycom Industries had a return on equity of 16.43% and a net margin of 3.73%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 EPS. Equities research analysts expect that Dycom Industries will post 5.37 EPS for the current fiscal year.

Dycom Industries Company Profile

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.