Dycom Industries, Inc. (NYSE:DY) Given Consensus Recommendation of “Buy” by Analysts

Shares of Dycom Industries, Inc. (NYSE:DY) have been assigned a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $203.43.

DY has been the subject of several recent research reports. B. Riley increased their price objective on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Bank of America lifted their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. KeyCorp upped their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. StockNews.com lowered Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company increased their price target on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Dycom Industries by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock worth $366,406,000 after purchasing an additional 42,121 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Dycom Industries by 143.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 8,308 shares of the construction company’s stock valued at $1,192,000 after buying an additional 4,896 shares during the period. First Bank & Trust grew its position in shares of Dycom Industries by 5.7% during the 1st quarter. First Bank & Trust now owns 2,013 shares of the construction company’s stock valued at $289,000 after buying an additional 108 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Dycom Industries during the first quarter worth about $28,000. Finally, Commonwealth Equity Services LLC lifted its holdings in Dycom Industries by 4.2% in the first quarter. Commonwealth Equity Services LLC now owns 4,201 shares of the construction company’s stock worth $603,000 after acquiring an additional 168 shares during the last quarter. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Performance

NYSE:DY opened at $202.79 on Tuesday. Dycom Industries has a twelve month low of $78.42 and a twelve month high of $207.20. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.57 and a beta of 1.41. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The firm’s fifty day simple moving average is $186.57 and its 200 day simple moving average is $171.85.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.20. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 earnings per share. As a group, equities research analysts expect that Dycom Industries will post 8.02 earnings per share for the current fiscal year.

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.