Dycom Industries (NYSE:DY) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Dycom Industries (NYSE:DY) from a buy rating to a hold rating in a research note published on Wednesday.

Other analysts also recently issued reports about the stock. UBS Group increased their price target on shares of Dycom Industries from $175.00 to $200.00 and gave the company a buy rating in a report on Thursday, May 23rd. B. Riley increased their price objective on shares of Dycom Industries from $172.00 to $205.00 and gave the company a buy rating in a research note on Friday, May 31st. KeyCorp increased their price objective on shares of Dycom Industries from $169.00 to $179.00 and gave the company an overweight rating in a research note on Thursday, May 23rd. Wells Fargo & Company increased their price objective on shares of Dycom Industries from $165.00 to $175.00 and gave the company an overweight rating in a research note on Monday, May 20th. Finally, Raymond James increased their price objective on shares of Dycom Industries from $143.00 to $195.00 and gave the company a strong-buy rating in a research note on Thursday, May 23rd. One 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 company. According to MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $191.71.

Dycom Industries Price Performance

Shares of Dycom Industries stock opened at $171.19 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.17 and a quick ratio of 2.97. Dycom Industries has a fifty-two week low of $78.42 and a fifty-two week high of $186.47. The firm has a fifty day moving average price of $166.86 and a two-hundred day moving average price of $140.71. The company has a market cap of $4.98 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.83 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.73. Dycom Industries had a net margin of 5.38% and a return on equity of 22.15%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm earned $1.73 EPS. The business’s revenue was up 9.3% on a year-over-year basis. Analysts expect that Dycom Industries will post 7.96 EPS for the current year.

Institutional Investors Weigh In On Dycom Industries

A number of hedge funds have recently made changes to their positions in the company. Peconic Partners LLC increased its position in shares of Dycom Industries by 0.7% during the 4th quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock worth $375,847,000 after purchasing an additional 21,635 shares in the last quarter. Vanguard Group Inc. grew its holdings in Dycom Industries by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock worth $458,728,000 after acquiring an additional 12,395 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Dycom Industries by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,008,912 shares of the construction company’s stock worth $116,117,000 after acquiring an additional 15,389 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Dycom Industries by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 418,969 shares of the construction company’s stock worth $48,219,000 after acquiring an additional 18,063 shares during the last quarter. Finally, Norges Bank bought a new stake in Dycom Industries during the 4th quarter worth about $33,679,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Company Profile

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.