Dycom Industries, Inc. (NYSE:DY) Given Average Recommendation of “Buy” by Analysts

Dycom Industries, Inc. (NYSE:DY) has been given an average rating of “Buy” by the eight research firms that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $206.13.

Several analysts have issued reports on DY shares. B. Riley lifted their price target on Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. DA Davidson restated a “buy” rating and set a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday. Bank of America raised their price target on Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a report on Friday, August 23rd. StockNews.com lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, KeyCorp upped their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th.

Dycom Industries Price Performance

Shares of DY stock opened at $176.56 on Friday. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.55 and a beta of 1.44. Dycom Industries has a 1 year low of $96.50 and a 1 year high of $207.20. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average is $189.40 and its 200-day moving average is $178.80.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company earned $2.03 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Sell-side analysts forecast that Dycom Industries will post 7.96 EPS for the current fiscal year.

Institutional Trading of Dycom Industries

Several institutional investors have recently made changes to their positions in DY. Allspring Global Investments Holdings LLC bought a new stake in shares of Dycom Industries in the first quarter valued at $28,000. Avantax Advisory Services Inc. bought a new position in Dycom Industries in the 1st quarter worth approximately $220,000. ProShare Advisors LLC grew its stake in Dycom Industries by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 5,796 shares of the construction company’s stock valued at $832,000 after buying an additional 399 shares in the last quarter. Vanguard Group Inc. raised its holdings in Dycom Industries by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,196,041 shares of the construction company’s stock valued at $458,728,000 after acquiring an additional 12,395 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Dycom Industries during the first quarter worth $250,000. Institutional investors own 98.33% of the company’s stock.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.