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

Dycom Industries (NYSE:DYGet Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other equities research analysts have also recently issued reports on DY. B. Riley boosted their price objective on Dycom Industries from $172.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, May 31st. UBS Group upped their price target on shares of Dycom Industries from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Craig Hallum raised their target price on Dycom Industries from $145.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Raymond James upped their price target on Dycom Industries from $143.00 to $195.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 23rd. Finally, Bank of America raised their price objective on shares of Dycom Industries from $160.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $191.71.

View Our Latest Analysis on DY

Dycom Industries Stock Performance

Shares of Dycom Industries stock opened at $169.63 on Wednesday. Dycom Industries has a 52 week low of $78.42 and a 52 week high of $186.47. The company has a quick ratio of 2.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average price of $166.22 and a 200-day moving average price of $140.50. The company has a market cap of $4.93 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.82 and a beta of 1.45.

Dycom Industries (NYSE:DYGet Free Report) last posted its quarterly earnings data on Wednesday, May 22nd. The construction company reported $2.12 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.09 billion. During the same quarter last year, the business posted $1.73 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities analysts anticipate that Dycom Industries will post 7.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dycom Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Dycom Industries in the fourth quarter worth $33,679,000. Appian Way Asset Management LP grew its position in shares of Dycom Industries by 84.2% in the 1st 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 period. First Trust Advisors LP increased its stake in shares of Dycom Industries by 36.3% in the 4th quarter. First Trust Advisors LP now owns 271,782 shares of the construction company’s stock worth $31,279,000 after acquiring an additional 72,415 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Dycom Industries during the 4th quarter valued at about $6,623,000. Finally, Vanguard Group Inc. lifted its position in Dycom Industries by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock valued at $366,406,000 after acquiring an additional 42,121 shares during the period. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Dycom Industries (NYSE:DY)

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