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

Dycom Industries, Inc. (NYSE:DY) has been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $199.57.

DY has been the topic of a number of recent analyst reports. Bank of America boosted their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Craig Hallum upped their target price on Dycom Industries from $145.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. UBS Group lifted their price target on shares of Dycom Industries from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Wells Fargo & Company boosted their target price on shares of Dycom Industries from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, Raymond James increased their price target on shares of Dycom Industries from $143.00 to $195.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 23rd.

Insider Buying and Selling

In related news, VP Jason T. Lawson sold 856 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $174.48, for a total value of $149,354.88. Following the sale, the vice president now owns 6,937 shares of the company’s stock, valued at approximately $1,210,367.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.28% of the stock is owned by company insiders.

Institutional Trading of Dycom Industries

A number of large investors have recently modified their holdings of the company. US Bancorp DE grew its stake in shares of Dycom Industries by 109.3% in the fourth quarter. US Bancorp DE now owns 14,623 shares of the construction company’s stock worth $1,683,000 after purchasing an additional 7,638 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Dycom Industries by 33.1% during the 1st quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock valued at $4,630,000 after buying an additional 8,028 shares during the period. Sheets Smith Wealth Management raised its position in shares of Dycom Industries by 100.0% during the 1st quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock worth $1,009,000 after buying an additional 3,514 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Dycom Industries by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock worth $366,406,000 after acquiring an additional 42,121 shares during the period. Finally, Peconic Partners LLC boosted its holdings in shares of Dycom Industries by 0.7% in the fourth quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after acquiring an additional 21,635 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Up 2.9 %

Shares of NYSE DY opened at $175.96 on Monday. The stock has a fifty day moving average price of $176.79 and a 200 day moving average price of $157.90. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. Dycom Industries has a 12-month low of $78.42 and a 12-month high of $196.34. The company has a market cap of $5.12 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.88 and a beta of 1.45.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. Dycom Industries’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 EPS. Research analysts anticipate that Dycom Industries will post 7.97 EPS for the current fiscal year.

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.