Dycom Industries (NYSE:DY) Lowered to Hold at StockNews.com

StockNews.com lowered shares of Dycom Industries (NYSE:DY) from a buy rating to a hold rating in a report published on Friday.

DY has been the topic of several other reports. KeyCorp upped their price target on shares of Dycom Industries from $169.00 to $179.00 and gave the company an overweight rating in a report on Thursday, May 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 note on Thursday, May 23rd. Raymond James raised their price target on Dycom Industries from $143.00 to $195.00 and gave the stock a strong-buy rating in a research note on Thursday, May 23rd. B. Riley upped their price objective on Dycom Industries from $172.00 to $205.00 and gave the company a buy rating in a research report on Friday, May 31st. Finally, UBS Group boosted their target price 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. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $195.29.

Dycom Industries Trading Up 2.1 %

Shares of DY stock opened at $177.91 on Friday. The company has a market cap of $5.18 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.89 and a beta of 1.45. Dycom Industries has a 1 year low of $78.42 and a 1 year high of $186.47. The stock’s 50 day simple moving average is $173.93 and its two-hundred day simple moving average is $146.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.17 and a quick ratio of 2.97.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, May 22nd. The construction company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.73. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. Dycom Industries’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 EPS. Research analysts predict that Dycom Industries will post 8.02 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Dycom Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE lifted its holdings in Dycom Industries by 109.3% during the fourth quarter. US Bancorp DE now owns 14,623 shares of the construction company’s stock worth $1,683,000 after buying an additional 7,638 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Dycom Industries by 33.1% during the 1st quarter. BNP Paribas Financial Markets now owns 32,256 shares of the construction company’s stock worth $4,630,000 after purchasing an additional 8,028 shares during the last quarter. Cubic Asset Management LLC boosted its position in Dycom Industries by 171.6% during the fourth quarter. Cubic Asset Management LLC now owns 11,882 shares of the construction company’s stock valued at $1,367,000 after purchasing an additional 7,507 shares in the last quarter. Sheets Smith Wealth Management grew its stake in Dycom Industries by 100.0% in the first quarter. Sheets Smith Wealth Management now owns 7,028 shares of the construction company’s stock valued at $1,009,000 after purchasing an additional 3,514 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Dycom Industries by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock worth $366,406,000 after purchasing an additional 42,121 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

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.