Dycom Industries, Inc. (DY) Given “Buy” Rating at Craig Hallum
Dycom Industries, Inc. (NYSE:DY)‘s stock had its “buy” rating reiterated by analysts at Craig Hallum in a research report issued on Thursday. They presently have a $90.00 price objective on the construction company’s stock, down from their prior price objective of $115.00. Craig Hallum’s price objective would indicate a potential upside of 18.31% from the stock’s current price. The analysts noted that the move was a valuation call.
Several other research firms have also recently weighed in on DY. Zacks Investment Research raised Dycom Industries from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Tuesday, May 16th. FBR & Co reaffirmed an “outperform” rating on shares of Dycom Industries in a research report on Monday, June 19th. BidaskClub cut Dycom Industries from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 price objective on shares of Dycom Industries in a research report on Thursday, May 25th. Finally, ValuEngine raised Dycom Industries from a “hold” rating to a “buy” rating in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $98.69.
Shares of Dycom Industries (NYSE DY) traded up 3.98% on Thursday, reaching $79.10. 557,467 shares of the company were exchanged. The company has a 50-day moving average price of $85.96 and a 200 day moving average price of $91.66. The stock has a market capitalization of $2.46 billion, a PE ratio of 15.56 and a beta of 1.18. Dycom Industries has a 1-year low of $70.33 and a 1-year high of $110.64. Dycom Industries also was the recipient of some unusual options trading on Tuesday. Traders purchased 10,219 call options on the company. This is an increase of 940% compared to the average daily volume of 983 call options.
Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, August 30th. The construction company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.03. Dycom Industries had a return on equity of 28.96% and a net margin of 5.30%. The firm had revenue of $780.20 million during the quarter, compared to analysts’ expectations of $798.62 million. During the same period in the previous year, the firm earned $1.64 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that Dycom Industries will post $4.98 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of DY. Pacad Investment Ltd. boosted its position in shares of Dycom Industries by 71.4% in the second 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 period. Public Employees Retirement System of Ohio boosted its position in shares of Dycom Industries by 6.6% in the second 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 period. Acrospire Investment Management LLC bought a new position in shares of Dycom Industries during the first quarter valued at approximately $121,000. Riverhead Capital Management LLC boosted its position in shares of Dycom Industries by 96.0% in the second 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 period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Dycom Industries by 257.7% in the second 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 period.
About Dycom Industries
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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