Dycom Industries (DY) Hits New 12-Month Low at $57.24

Dycom Industries, Inc. (NYSE:DY)’s share price reached a new 52-week low on Friday . The stock traded as low as $57.24 and last traded at $56.65, with a volume of 21120 shares changing hands. The stock had previously closed at $60.23.

Several equities analysts have weighed in on DY shares. Deutsche Bank set a $93.00 target price on Dycom Industries and gave the company a “buy” rating in a research report on Thursday, August 30th. B. Riley downgraded Dycom Industries from a “buy” rating to a “neutral” rating and dropped their target price for the company from $120.00 to $75.00 in a research report on Monday, August 13th. Wells Fargo & Co decreased their price objective on Dycom Industries from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, August 30th. Craig Hallum cut Dycom Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Finally, DA Davidson decreased their price objective on Dycom Industries to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $96.70.

The company has a quick ratio of 3.48, a current ratio of 3.78 and a debt-to-equity ratio of 1.06. The company has a market cap of $1.91 billion, a PE ratio of 21.77, a PEG ratio of 2.54 and a beta of 1.44.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Tuesday, November 20th. The construction company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. The business had revenue of $848.20 million during the quarter, compared to analysts’ expectations of $806.88 million. Dycom Industries had a return on equity of 11.38% and a net margin of 3.79%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. Analysts expect that Dycom Industries, Inc. will post 2.83 earnings per share for the current year.

Dycom Industries announced that its board has authorized a stock repurchase program on Wednesday, August 29th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to reacquire up to 6.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

A number of hedge funds have recently bought and sold shares of DY. Arizona State Retirement System lifted its stake in Dycom Industries by 2.8% in the second quarter. Arizona State Retirement System now owns 21,658 shares of the construction company’s stock valued at $2,047,000 after buying an additional 589 shares during the last quarter. Cim Investment Mangement Inc. grew its holdings in Dycom Industries by 33.3% during the second quarter. Cim Investment Mangement Inc. now owns 2,599 shares of the construction company’s stock worth $246,000 after acquiring an additional 649 shares during the period. Rhumbline Advisers grew its holdings in Dycom Industries by 1.1% during the second quarter. Rhumbline Advisers now owns 64,486 shares of the construction company’s stock worth $6,095,000 after acquiring an additional 676 shares during the period. Montag A & Associates Inc. grew its holdings in Dycom Industries by 1.2% during the second quarter. Montag A & Associates Inc. now owns 67,713 shares of the construction company’s stock worth $6,400,000 after acquiring an additional 799 shares during the period. Finally, Harbour Capital Advisors LLC grew its holdings in Dycom Industries by 8.7% during the third quarter. Harbour Capital Advisors LLC now owns 12,785 shares of the construction company’s stock worth $1,082,000 after acquiring an additional 1,027 shares during the period. Hedge funds and other institutional investors own 99.21% of the company’s stock.

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Dycom Industries Company Profile (NYSE:DY)

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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