Dycom Industries (NYSE:DY) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Dycom Industries (NYSE:DY) from a hold rating to a buy rating in a research report sent to investors on Friday.

DY has been the topic of several other reports. UBS Group dropped their price target on Dycom Industries from $132.00 to $127.00 and set a buy rating on the stock in a research report on Monday, August 21st. DA Davidson reissued a buy rating on shares of Dycom Industries in a research report on Wednesday, May 31st. Raymond James initiated coverage on Dycom Industries in a research report on Wednesday, May 31st. They set an outperform rating and a $120.00 price target on the stock. Wells Fargo & Company upped their price target on Dycom Industries from $115.00 to $120.00 and gave the company an overweight rating in a research report on Thursday, August 24th. Finally, B. Riley reissued a neutral rating and set a $111.00 price target on shares of Dycom Industries in a research report on Thursday, August 24th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Dycom Industries has a consensus rating of Moderate Buy and a consensus target price of $120.40.

Dycom Industries Stock Down 0.8 %

Shares of Dycom Industries stock opened at $96.16 on Friday. The stock’s fifty day moving average is $100.05 and its 200-day moving average is $99.63. The firm has a market capitalization of $2.82 billion, a PE ratio of 15.05 and a beta of 1.32. The company has a quick ratio of 3.13, a current ratio of 3.38 and a debt-to-equity ratio of 0.83. Dycom Industries has a 12-month low of $77.33 and a 12-month high of $122.13.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 23rd. The construction company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.37. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Dycom Industries had a return on equity of 20.89% and a net margin of 4.71%. Dycom Industries’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 earnings per share. Equities analysts anticipate that Dycom Industries will post 6.56 earnings per share for the current year.

Institutional Trading of Dycom Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DY. West Tower Group LLC acquired a new stake in shares of Dycom Industries during the 2nd quarter worth approximately $26,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Dycom Industries during the 2nd quarter worth approximately $36,000. CWM LLC grew its holdings in shares of Dycom Industries by 35.2% during the 1st quarter. CWM LLC now owns 430 shares of the construction company’s stock worth $40,000 after purchasing an additional 112 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Dycom Industries by 114.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 490 shares of the construction company’s stock worth $45,000 after purchasing an additional 261 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Dycom Industries during the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 98.43% 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.