Dycom Industries (NYSE:DY) Downgraded 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 Wednesday.

A number of other research analysts have also recently weighed in on DY. B. Riley boosted their target price on shares of Dycom Industries from $172.00 to $205.00 and gave the company a buy rating in a research note on Friday, May 31st. KeyCorp boosted their target price on shares of Dycom Industries from $169.00 to $179.00 and gave the company an overweight rating in a research note on Thursday, May 23rd. Raymond James boosted their target price on shares of Dycom Industries from $143.00 to $195.00 and gave the company a strong-buy rating in a research note on Thursday, May 23rd. Craig Hallum boosted their target price on shares of Dycom Industries from $145.00 to $190.00 and gave the company a buy rating in a research note on Thursday, May 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Dycom Industries from $165.00 to $175.00 and gave the company an overweight rating in a research note on Monday, May 20th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Buy and a consensus target price of $191.71.

Dycom Industries Stock Up 2.4 %

Dycom Industries stock opened at $178.98 on Wednesday. Dycom Industries has a fifty-two week low of $78.42 and a fifty-two week high of $186.47. The stock has a market cap of $5.21 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.84 and a beta of 1.45. The firm’s 50-day simple moving average is $168.25 and its 200 day simple moving average is $141.39. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.97 and a current ratio of 3.17.

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, topping the consensus estimate of $1.39 by $0.73. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts predict that Dycom Industries will post 7.96 EPS for the current fiscal year.

Insider Activity

In other news, VP Jason T. Lawson sold 856 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were 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 $1,210,367.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.28% of the company’s stock.

Institutional Trading of Dycom Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE increased its holdings in Dycom Industries by 109.3% during the 4th quarter. US Bancorp DE now owns 14,623 shares of the construction company’s stock worth $1,683,000 after acquiring an additional 7,638 shares during the period. Cubic Asset Management LLC increased its holdings in Dycom Industries by 171.6% during the 4th quarter. Cubic Asset Management LLC now owns 11,882 shares of the construction company’s stock worth $1,367,000 after acquiring an additional 7,507 shares during the period. Vanguard Group Inc. increased its holdings in Dycom Industries by 1.3% during 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. Peconic Partners LLC increased its holdings in Dycom Industries by 0.7% during the 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock worth $375,847,000 after acquiring an additional 21,635 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in Dycom Industries during the 4th quarter worth approximately $6,623,000. 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.