Craig Hallum Reiterates Buy Rating for Dycom Industries, Inc. (DY)
Dycom Industries, Inc. (NYSE:DY)‘s stock had its “buy” rating reaffirmed by research analysts at Craig Hallum in a research note issued to investors on Tuesday. They currently have a $114.00 target price on the construction company’s stock, up from their prior target price of $90.00. Craig Hallum’s price target would indicate a potential upside of 10.83% from the company’s previous close.
Several other analysts have also recently commented on DY. BidaskClub cut Dycom Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. KeyCorp upgraded Dycom Industries from a “sector weight” rating to an “overweight” rating and set a $87.00 target price on the stock in a report on Wednesday, August 30th. FBR & Co increased their target price on Dycom Industries from $98.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, August 30th. Canaccord Genuity decreased their target price on Dycom Industries from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, August 31st. Finally, Deutsche Bank AG initiated coverage on Dycom Industries in a report on Tuesday, September 26th. They set a “buy” rating and a $103.00 target price on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $109.40.
Shares of Dycom Industries (NYSE:DY) opened at $102.86 on Tuesday. Dycom Industries has a 1 year low of $70.88 and a 1 year high of $110.64. The firm has a market capitalization of $3,141.99, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.90 and a beta of 1.27. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.16 and a quick ratio of 2.69.
Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Monday, November 20th. The construction company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.09. Dycom Industries had a return on equity of 22.49% and a net margin of 4.46%. The firm had revenue of $756.20 million for the quarter, compared to analysts’ expectations of $729.35 million. During the same period in the prior year, the business posted $1.67 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. equities research analysts anticipate that Dycom Industries will post 4.32 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacad Investment Ltd. raised its position in Dycom Industries by 71.4% in the 2nd quarter. Pacad Investment Ltd. now owns 1,200 shares of the construction company’s stock valued at $107,000 after buying an additional 500 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Dycom Industries by 6.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,298 shares of the construction company’s stock valued at $116,000 after buying an additional 80 shares during the last quarter. Riverhead Capital Management LLC raised its position in Dycom Industries by 96.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,764 shares of the construction company’s stock valued at $158,000 after buying an additional 864 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Dycom Industries by 257.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,146 shares of the construction company’s stock valued at $192,000 after buying an additional 1,546 shares during the last quarter. Finally, Sigma Planning Corp acquired a new stake in Dycom Industries in the 2nd quarter valued at approximately $211,000.
Dycom Industries Company Profile
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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