DA Davidson Raises Dycom Industries, Inc. (DY) Price Target to $100.00
Dycom Industries, Inc. (NYSE:DY) had its price target raised by DA Davidson to $100.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has a neutral rating on the construction company’s stock. DA Davidson also issued estimates for Dycom Industries’ Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $1.20 EPS, Q4 2018 earnings at $1.60 EPS, Q1 2019 earnings at $1.61 EPS and Q2 2019 earnings at $0.73 EPS.
Several other equities research analysts have also recently weighed in on the company. B. Riley reaffirmed a buy rating and issued a $119.00 price target (up from $98.00) on shares of Dycom Industries in a research note on Friday, November 17th. Stephens upped their price target on Dycom Industries from $105.00 to $120.00 and gave the stock an overweight rating in a research note on Thursday, November 16th. Zacks Investment Research raised Dycom Industries from a strong sell rating to a hold rating in a research note on Tuesday, October 31st. Deutsche Bank AG began coverage on Dycom Industries in a research note on Tuesday, September 26th. They issued a buy rating and a $103.00 price target on the stock. Finally, Canaccord Genuity reduced their price target on Dycom Industries from $120.00 to $110.00 and set a buy rating on the stock in a research note on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. Dycom Industries currently has an average rating of Buy and a consensus price target of $109.40.
Shares of Dycom Industries (NYSE:DY) traded up $1.86 during trading on Tuesday, hitting $102.86. The company had a trading volume of 693,500 shares, compared to its average volume of 676,735. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.69 and a current ratio of 3.16. The company has a market capitalization of $3,182.36, a P/E ratio of 22.46, a PEG ratio of 2.00 and a beta of 1.27. Dycom Industries has a one year low of $70.88 and a one year high of $110.64.
Dycom Industries (NYSE:DY) last announced its earnings results on Monday, November 20th. The construction company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.09. The company had revenue of $756.20 million during the quarter, compared to the consensus estimate of $729.35 million. Dycom Industries had a return on equity of 22.49% and a net margin of 4.46%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 earnings per share. equities analysts predict that Dycom Industries will post 4.16 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pier Capital LLC purchased a new stake in shares of Dycom Industries during the second quarter valued at $5,593,000. Virginia Retirement Systems ET AL lifted its holdings in Dycom Industries by 40.2% in the second quarter. Virginia Retirement Systems ET AL now owns 25,100 shares of the construction company’s stock valued at $2,247,000 after acquiring an additional 7,200 shares during the period. Vanguard Group Inc. lifted its holdings in Dycom Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 2,454,547 shares of the construction company’s stock valued at $219,732,000 after acquiring an additional 17,420 shares during the period. Chase Investment Counsel Corp bought a new position in Dycom Industries in the second quarter valued at about $862,000. Finally, Argent Capital Management LLC bought a new position in Dycom Industries in the second quarter valued at about $376,000.
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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