Dycom Industries (NYSE:DY)‘s stock had its “outperform” rating reiterated by analysts at Wells Fargo & Company in a research note issued to investors on Tuesday, November 21st, The Fly reports. They currently have a $109.00 price objective on the construction company’s stock, up from their prior price objective of $88.00. Wells Fargo & Company’s target price would suggest a potential upside of 0.72% from the stock’s current price.
A number of other research firms have also recently commented on DY. B. Riley reaffirmed a “buy” rating on shares of Dycom Industries in a research report on Wednesday, November 1st. FBR & Co lifted their price objective on shares of Dycom Industries from $98.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, August 30th. DA Davidson lifted their price objective on shares of Dycom Industries to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 21st. Craig Hallum reaffirmed a “buy” rating and set a $90.00 price objective (down from $115.00) on shares of Dycom Industries in a research report on Thursday, August 31st. They noted that the move was a valuation call. Finally, KeyCorp raised shares of Dycom Industries from a “sector weight” rating to an “overweight” rating and set a $87.00 target price for the company in a research report on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. Dycom Industries currently has an average rating of “Buy” and a consensus price target of $109.40.
Dycom Industries (DY) traded down $0.97 during midday trading on Tuesday, hitting $108.22. 430,317 shares of the stock were exchanged, compared to its average volume of 672,898. The company has a quick ratio of 2.86, a current ratio of 3.16 and a debt-to-equity ratio of 1.07. Dycom Industries has a 12 month low of $73.95 and a 12 month high of $113.30. The firm has a market capitalization of $3,393.99, a P/E ratio of 23.95, a PEG ratio of 2.18 and a beta of 1.38.
Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Monday, November 20th. The construction company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.09. The company had revenue of $756.20 million for the quarter, compared to the consensus estimate of $729.35 million. Dycom Industries had a net margin of 4.46% and a return on equity of 22.49%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company earned $1.67 earnings per share. sell-side analysts predict that Dycom Industries will post 4.09 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Harbour Capital Advisors LLC boosted its holdings in Dycom Industries by 9,665.8% in the second quarter. Harbour Capital Advisors LLC now owns 725,112 shares of the construction company’s stock valued at $8,100,000 after acquiring an additional 717,687 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Dycom Industries in the second quarter valued at approximately $26,385,000. Columbus Circle Investors boosted its holdings in Dycom Industries by 141.6% in the second quarter. Columbus Circle Investors now owns 451,063 shares of the construction company’s stock valued at $40,379,000 after acquiring an additional 264,353 shares during the last quarter. Scout Investments Inc. boosted its holdings in Dycom Industries by 407.6% in the second quarter. Scout Investments Inc. now owns 288,107 shares of the construction company’s stock valued at $25,791,000 after acquiring an additional 231,345 shares during the last quarter. Finally, SG Capital Management LLC bought a new stake in Dycom Industries in the third quarter valued at approximately $15,925,000.
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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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