Dycom Industries (NYSE:DY) Downgraded to “Hold” at StockNews.com

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

A number of other analysts also recently weighed in on the company. UBS Group increased their price objective on Dycom Industries from $175.00 to $200.00 and gave the company a buy rating in a report on Thursday, May 23rd. Craig Hallum raised their price target on shares of Dycom Industries from $145.00 to $190.00 and gave the company a buy rating in a research report on Thursday, May 23rd. Wells Fargo & Company increased their price objective on shares of Dycom Industries from $185.00 to $200.00 and gave the company an overweight rating in a research note on Wednesday, July 17th. KeyCorp increased their price objective 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. Finally, B. Riley increased their price objective 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. 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 stock. According to data from MarketBeat, Dycom Industries currently has an average rating of Buy and a consensus target price of $195.29.

Dycom Industries Trading Up 0.1 %

Shares of DY stock opened at $178.06 on Friday. The company has a current ratio of 3.17, a quick ratio of 2.97 and a debt-to-equity ratio of 0.78. The stock has a market cap of $5.18 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 1.89 and a beta of 1.45. The stock has a 50 day simple moving average of $174.45 and a 200 day simple moving average of $146.74. Dycom Industries has a 1 year low of $78.42 and a 1 year high of $186.47.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, May 22nd. The construction company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.39 by $0.73. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 earnings per share. On average, research analysts predict that Dycom Industries will post 8.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dycom Industries news, VP Jason T. Lawson sold 856 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 6,937 shares of the company’s stock, valued at approximately $1,210,367.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Callahan Advisors LLC boosted its position in Dycom Industries by 4.0% during the second quarter. Callahan Advisors LLC now owns 31,741 shares of the construction company’s stock valued at $5,357,000 after buying an additional 1,208 shares during the period. Bank of New York Mellon Corp grew its holdings in Dycom Industries by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 230,216 shares of the construction company’s stock worth $38,851,000 after purchasing an additional 971 shares during the period. EFG Asset Management North America Corp. grew its holdings in Dycom Industries by 101.5% in the second quarter. EFG Asset Management North America Corp. now owns 12,242 shares of the construction company’s stock worth $2,064,000 after purchasing an additional 6,166 shares during the period. IMA Advisory Services Inc. purchased a new stake in Dycom Industries in the second quarter worth about $264,000. Finally, Louisiana State Employees Retirement System grew its holdings in Dycom Industries by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the construction company’s stock worth $2,464,000 after purchasing an additional 100 shares during the period. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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.