Wall Street Zen Upgrades Dycom Industries (NYSE:DY) to Buy

Dycom Industries (NYSE:DY) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other equities research analysts have also issued reports about the company. B. Riley raised their target price on Dycom Industries from $200.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. DA Davidson raised their target price on Dycom Industries from $220.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. UBS Group raised their target price on Dycom Industries from $234.00 to $258.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. KeyCorp decreased their target price on Dycom Industries from $201.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. raised their target price on Dycom Industries from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, May 22nd. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $241.25.

Dycom Industries Price Performance

Shares of NYSE:DY opened at $232.69 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The stock’s fifty day simple moving average is $192.46 and its two-hundred day simple moving average is $179.73. Dycom Industries has a 1-year low of $131.37 and a 1-year high of $243.38. The stock has a market cap of $6.73 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 1.29 and a beta of 1.32.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.47. Dycom Industries had a return on equity of 20.99% and a net margin of 4.91%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business earned $2.12 EPS. The business’s revenue was up 10.2% on a year-over-year basis. As a group, analysts forecast that Dycom Industries will post 7.13 EPS for the current fiscal year.

Dycom Industries announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Dycom Industries

Several large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in Dycom Industries during the 1st quarter valued at about $28,000. AlphaQuest LLC purchased a new position in Dycom Industries during the 1st quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its holdings in Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock valued at $59,000 after buying an additional 71 shares in the last quarter. GeoWealth Management LLC grew its holdings in Dycom Industries by 35.9% during the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company’s stock valued at $61,000 after buying an additional 92 shares in the last quarter. Finally, Anchor Investment Management LLC grew its holdings in Dycom Industries by 37.5% during the 4th quarter. Anchor Investment Management LLC now owns 367 shares of the construction company’s stock valued at $64,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

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.