Dycom Industries, Inc. (NYSE:DY) Given Average Rating of “Buy” by Brokerages

Shares of Dycom Industries, Inc. (NYSE:DY) have earned an average recommendation of “Buy” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $206.13.

Several research analysts have issued reports on DY shares. StockNews.com lowered Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. B. Riley boosted their price target on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. DA Davidson reiterated a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a report on Tuesday. Finally, KeyCorp boosted their price target on Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th.

Dycom Industries Stock Down 1.7 %

Shares of NYSE:DY opened at $180.14 on Friday. Dycom Industries has a 1 year low of $99.54 and a 1 year high of $207.20. The business has a 50 day simple moving average of $189.36 and a two-hundred day simple moving average of $178.83. The firm has a market capitalization of $5.24 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 1.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.44 and a quick ratio of 3.25.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business earned $2.03 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities analysts predict that Dycom Industries will post 7.96 EPS for the current year.

Institutional Trading of Dycom Industries

A number of hedge funds have recently bought and sold shares of the stock. Ironwood Investment Management LLC lifted its holdings in Dycom Industries by 0.4% during the second quarter. Ironwood Investment Management LLC now owns 14,625 shares of the construction company’s stock worth $2,468,000 after buying an additional 58 shares during the period. First Horizon Advisors Inc. lifted its holdings in Dycom Industries by 25.4% during the third quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock worth $57,000 after buying an additional 59 shares during the period. Anchor Investment Management LLC lifted its holdings in Dycom Industries by 50.4% during the second quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after buying an additional 65 shares during the period. Somerset Trust Co lifted its holdings in Dycom Industries by 1.6% during the second quarter. Somerset Trust Co now owns 4,448 shares of the construction company’s stock worth $751,000 after buying an additional 68 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of Dycom Industries by 4.5% during the third quarter. HighTower Advisors LLC now owns 1,858 shares of the construction company’s stock worth $366,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors 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.