Dycom Industries (NYSE:DY) Cut 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 issued to investors on Friday morning.

Several other research firms have also issued reports on DY. Bank of America boosted their price target on shares of Dycom Industries from $160.00 to $198.00 and gave the company a buy rating in a research report on Wednesday, May 29th. Craig Hallum increased their target price on Dycom Industries from $145.00 to $190.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. KeyCorp lifted their price target on Dycom Industries from $169.00 to $179.00 and gave the company an overweight rating in a research report on Thursday, May 23rd. UBS Group raised their target price on Dycom Industries from $175.00 to $200.00 and gave the stock a buy rating in a research note on Thursday, May 23rd. Finally, Raymond James increased their price target on shares of Dycom Industries from $143.00 to $195.00 and gave the stock a strong-buy rating in a report on Thursday, May 23rd. 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 stock. According to MarketBeat.com, Dycom Industries presently has a consensus rating of Buy and a consensus price target of $195.29.

Dycom Industries Price Performance

Shares of NYSE DY opened at $177.91 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 fifty day simple moving average of $173.93 and a two-hundred day simple moving average of $146.29. Dycom Industries has a 1-year low of $78.42 and a 1-year high of $186.47. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 1.89 and a beta of 1.45.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, May 22nd. The construction company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.73. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. The firm 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 firm earned $1.73 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts anticipate that Dycom Industries will post 8.02 earnings per share for the current year.

Insider Transactions at Dycom Industries

In related news, VP Jason T. Lawson sold 856 shares of the firm’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 directly owns 6,937 shares of the company’s stock, valued at $1,210,367.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Dycom Industries

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Dycom Industries during the 1st quarter valued at about $28,000. GAMMA Investing LLC grew its position in Dycom Industries by 107.8% during the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock valued at $49,000 after acquiring an additional 152 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Dycom Industries by 5,071.4% during the second quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company’s stock worth $61,000 after acquiring an additional 355 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Dycom Industries in the 1st quarter worth approximately $72,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Dycom Industries by 26.4% in the 4th quarter. Quadrant Capital Group LLC now owns 770 shares of the construction company’s stock valued at $89,000 after purchasing an additional 161 shares in the last quarter. Hedge funds and other 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.