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

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

DY has been the topic of a number of other research reports. B. Riley raised their price target on Dycom Industries from $172.00 to $205.00 and gave the stock a buy rating in a research report on Friday, May 31st. Bank of America raised their price target on Dycom Industries from $160.00 to $198.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. KeyCorp raised their price target on Dycom Industries from $169.00 to $179.00 and gave the stock an overweight rating in a research report on Thursday, May 23rd. UBS Group raised their price target on Dycom Industries from $175.00 to $200.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company raised their price target on Dycom Industries from $165.00 to $175.00 and gave the stock an overweight rating in a research report on Monday, May 20th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Dycom Industries has a consensus rating of Buy and an average target price of $191.71.

Dycom Industries Price Performance

Shares of DY stock opened at $168.50 on Friday. The stock’s fifty day moving average is $162.70 and its 200-day moving average is $138.05. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.97 and a current ratio of 3.17. The stock has a market capitalization of $4.90 billion, a PE ratio of 21.71, a PEG ratio of 1.82 and a beta of 1.45. Dycom Industries has a 52 week low of $78.42 and a 52 week high of $186.47.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, May 22nd. The construction company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.39 by $0.73. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts expect that Dycom Industries will post 7.96 EPS for the current fiscal year.

Institutional Trading of Dycom Industries

Several hedge funds have recently added to or reduced their stakes in DY. Envestnet Asset Management Inc. lifted its holdings in Dycom Industries by 32.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 34,932 shares of the construction company’s stock worth $3,109,000 after purchasing an additional 8,640 shares during the last quarter. FMR LLC lifted its holdings in Dycom Industries by 3.0% during the 3rd quarter. FMR LLC now owns 674,834 shares of the construction company’s stock worth $60,060,000 after purchasing an additional 19,842 shares during the last quarter. Invesco Ltd. lifted its holdings in Dycom Industries by 7.3% during the 3rd quarter. Invesco Ltd. now owns 122,809 shares of the construction company’s stock worth $10,930,000 after purchasing an additional 8,316 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Dycom Industries by 36.1% during the 3rd quarter. Hsbc Holdings PLC now owns 13,112 shares of the construction company’s stock worth $1,172,000 after purchasing an additional 3,476 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Dycom Industries during the 3rd quarter worth approximately $307,000. 98.33% of the stock is owned by institutional investors and hedge funds.

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.