Dycom Industries, Inc. (NYSE:DY) Receives Consensus Recommendation of “Hold” from Analysts

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Dycom Industries, Inc. (NYSE:DY) has received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $59.86.

A number of brokerages recently weighed in on DY. B. Riley restated a “buy” rating and set a $60.00 target price on shares of Dycom Industries in a report on Tuesday, December 10th. Wells Fargo & Co raised their target price on shares of Dycom Industries from $52.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th.

A number of institutional investors have recently bought and sold shares of the stock. Townsend & Associates Inc boosted its stake in Dycom Industries by 2.2% in the 4th quarter. Townsend & Associates Inc now owns 26,591 shares of the construction company’s stock worth $1,230,000 after purchasing an additional 561 shares during the period. Radnor Capital Management LLC acquired a new position in Dycom Industries in the 4th quarter worth approximately $298,000. FNY Investment Advisers LLC acquired a new position in Dycom Industries in the 4th quarter worth approximately $612,000. Maverick Capital Ltd. acquired a new position in Dycom Industries in the 3rd quarter worth approximately $882,000. Finally, Granahan Investment Management Inc. MA boosted its stake in Dycom Industries by 88.6% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 177,638 shares of the construction company’s stock worth $9,068,000 after purchasing an additional 83,450 shares during the period. 95.48% of the stock is owned by hedge funds and other institutional investors.

NYSE:DY traded down $0.64 during trading hours on Tuesday, reaching $44.41. 663,000 shares of the company’s stock were exchanged, compared to its average volume of 321,467. The company has a market capitalization of $1.42 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 2.28 and a beta of 1.38. Dycom Industries has a 12 month low of $40.06 and a 12 month high of $64.49. The company has a quick ratio of 3.58, a current ratio of 3.87 and a debt-to-equity ratio of 1.15. The business’s 50-day simple moving average is $48.00 and its two-hundred day simple moving average is $49.51.

Dycom Industries (NYSE:DY) last issued its earnings results on Tuesday, November 26th. The construction company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.16. The firm had revenue of $884.10 million during the quarter, compared to analysts’ expectations of $848.19 million. Dycom Industries had a net margin of 1.68% and a return on equity of 9.87%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. As a group, sell-side analysts anticipate that Dycom Industries will post 2.48 earnings per share for the current fiscal year.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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Analyst Recommendations for Dycom Industries (NYSE:DY)

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