Dycom Industries, Inc. (DY) Given Consensus Rating of “Hold” by Analysts

Shares of Dycom Industries, Inc. (NYSE:DY) have earned an average rating of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $99.75.

Several equities research analysts recently commented on DY shares. Deutsche Bank set a $93.00 price objective on shares of Dycom Industries and gave the stock a “buy” rating in a research note on Thursday, August 30th. B. Riley lowered shares of Dycom Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $120.00 to $75.00 in a research note on Monday, August 13th. Wells Fargo & Co dropped their price objective on shares of Dycom Industries from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, August 30th. Zacks Investment Research raised shares of Dycom Industries from a “sell” rating to a “hold” rating in a research note on Monday, August 6th. Finally, Craig Hallum lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. lifted its stake in shares of Dycom Industries by 6,483.6% in the second quarter. Advisors Asset Management Inc. now owns 785,814 shares of the construction company’s stock worth $1,035,000 after buying an additional 773,878 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Dycom Industries by 31.1% during the second quarter. Schroder Investment Management Group now owns 718,903 shares of the construction company’s stock valued at $67,929,000 after purchasing an additional 170,344 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Dycom Industries by 14.3% during the second quarter. Glenmede Trust Co. NA now owns 631,830 shares of the construction company’s stock valued at $59,714,000 after purchasing an additional 79,265 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Dycom Industries by 2.0% during the second quarter. Northern Trust Corp now owns 529,814 shares of the construction company’s stock valued at $50,072,000 after purchasing an additional 10,607 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Dycom Industries by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 472,027 shares of the construction company’s stock valued at $44,611,000 after purchasing an additional 25,762 shares during the last quarter.

NYSE:DY traded down $1.00 during mid-day trading on Friday, hitting $74.26. 27,908 shares of the company’s stock were exchanged, compared to its average volume of 381,931. Dycom Industries has a one year low of $67.15 and a one year high of $123.99. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.24 and a quick ratio of 2.96. The firm has a market capitalization of $2.45 billion, a P/E ratio of 27.94, a PEG ratio of 3.27 and a beta of 1.21.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, August 29th. The construction company reported $1.05 EPS for the quarter, hitting the consensus estimate of $1.05. Dycom Industries had a net margin of 3.94% and a return on equity of 12.07%. The business had revenue of $799.50 million for the quarter, compared to analyst estimates of $799.51 million. During the same quarter in the previous year, the firm posted $1.47 earnings per share. Dycom Industries’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts expect that Dycom Industries will post 2.82 earnings per share for the current fiscal year.

Dycom Industries declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 29th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 6.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services in the United States and Canada. 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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