Dycom Industries, Inc. (NYSE:DY) has been given an average rating of “Buy” by the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $96.33.
Several research analysts have weighed in on DY shares. TheStreet lowered shares of Dycom Industries from a “b-” rating to a “c+” rating in a research note on Friday, October 19th. Wells Fargo & Co dropped their price target 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. Deutsche Bank set a $93.00 price target 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 target for the stock from $120.00 to $75.00 in a research note on Monday, August 13th. Finally, ValuEngine lowered shares of Dycom Industries from a “sell” rating to a “strong sell” rating in a research note on Monday, August 13th.
Dycom Industries stock traded down $4.05 during trading hours on Monday, hitting $56.18. The company had a trading volume of 634,902 shares, compared to its average volume of 545,863. The firm has a market cap of $1.89 billion, a PE ratio of 21.51, a P/E/G ratio of 2.51 and a beta of 1.44. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.48 and a current ratio of 3.78. Dycom Industries has a fifty-two week low of $55.85 and a fifty-two week high of $123.99.
Dycom Industries (NYSE:DY) last released its quarterly earnings data on Tuesday, November 20th. The construction company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.08. The firm had revenue of $848.20 million for the quarter, compared to analyst estimates of $806.88 million. Dycom Industries had a net margin of 3.79% and a return on equity of 11.38%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. Equities analysts anticipate that Dycom Industries will post 2.83 EPS for the current fiscal year.
Dycom Industries declared that its Board of Directors has approved a stock buyback program on Wednesday, August 29th that allows the company to buyback $150.00 million in outstanding 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 generally an indication that the company’s leadership believes its stock is undervalued.
Several institutional investors and hedge funds have recently made changes to their positions in DY. Clearbridge Investments LLC lifted its holdings in shares of Dycom Industries by 1,517,725.0% during the 3rd quarter. Clearbridge Investments LLC now owns 182,139 shares of the construction company’s stock worth $15,409,000 after acquiring an additional 182,127 shares during the period. Belpointe Asset Management LLC bought a new position in shares of Dycom Industries during the 3rd quarter worth about $104,000. Vanguard Group Inc. lifted its holdings in shares of Dycom Industries by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,700,090 shares of the construction company’s stock worth $228,428,000 after acquiring an additional 57,686 shares during the period. Standard Life Aberdeen plc lifted its holdings in shares of Dycom Industries by 26.4% during the 3rd quarter. Standard Life Aberdeen plc now owns 15,300 shares of the construction company’s stock worth $1,294,000 after acquiring an additional 3,200 shares during the period. Finally, Teachers Advisors LLC lifted its holdings in shares of Dycom Industries by 2.3% during the 3rd quarter. Teachers Advisors LLC now owns 59,421 shares of the construction company’s stock worth $5,027,000 after acquiring an additional 1,308 shares during the period. Institutional investors own 99.21% of the company’s stock.
Dycom Industries Company Profile
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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