Dycom Industries, Inc. (NYSE:DY – Get Rating) has been given an average rating of "Buy" by the eight brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $126.33.
Several equities research analysts have issued reports on the company. DA Davidson increased their price target on Dycom Industries from $125.00 to $145.00 in a report on Thursday, August 25th. Wells Fargo & Company lowered their price target on Dycom Industries from $120.00 to $110.00 in a report on Wednesday, May 11th. TheStreet upgraded Dycom Industries from a "c+" rating to a "b" rating in a report on Friday, May 27th. Craig Hallum increased their price objective on Dycom Industries from $121.00 to $133.00 in a report on Thursday, August 25th. Finally, KeyCorp increased their price objective on Dycom Industries from $115.00 to $130.00 and gave the stock an "overweight" rating in a report on Tuesday, August 23rd.
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Insider Activity at Dycom Industries
In related news, CEO Steven E. Nielsen sold 69,062 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $112.75, for a total transaction of $7,786,740.50. Following the completion of the transaction, the chief executive officer now directly owns 688,778 shares of the company's stock, valued at $77,659,719.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Steven E. Nielsen sold 18,611 shares of the firm's stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $113.60, for a total value of $2,114,209.60. Following the completion of the sale, the chief executive officer now directly owns 689,719 shares of the company's stock, valued at $78,352,078.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Steven E. Nielsen sold 69,062 shares of the firm's stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $112.75, for a total value of $7,786,740.50. Following the completion of the sale, the chief executive officer now directly owns 688,778 shares of the company's stock, valued at $77,659,719.50. The disclosure for this sale can be found here. Insiders own 4.32% of the company's stock.
Institutional Trading of Dycom Industries
A number of hedge funds have recently made changes to their positions in DY. First Horizon Advisors Inc. lifted its holdings in Dycom Industries by 50.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 335 shares of the construction company's stock worth $30,000 after purchasing an additional 113 shares during the last quarter. Tcwp LLC bought a new position in Dycom Industries during the 1st quarter worth $38,000. UMB Bank N A MO bought a new position in Dycom Industries during the 4th quarter worth $39,000. Strs Ohio bought a new position in Dycom Industries during the 1st quarter worth $57,000. Finally, Assetmark Inc. increased its stake in Dycom Industries by 142.0% during the 2nd quarter. Assetmark Inc. now owns 714 shares of the construction company's stock worth $66,000 after acquiring an additional 419 shares during the period. 93.32% of the stock is owned by institutional investors and hedge funds.
Dycom Industries Trading Up 0.8 %
NYSE:DY opened at $109.97 on Thursday. Dycom Industries has a 1-year low of $64.77 and a 1-year high of $120.45. The business's 50-day moving average price is $104.18 and its two-hundred day moving average price is $95.41. The company has a current ratio of 3.32, a quick ratio of 3.09 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 35.70 and a beta of 1.37.
Dycom Industries (NYSE:DY – Get Rating) last announced its quarterly earnings results on Wednesday, August 24th. The construction company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.47. Dycom Industries had a return on equity of 11.38% and a net margin of 2.68%. The company had revenue of $972.30 million during the quarter, compared to the consensus estimate of $932.37 million. During the same period in the prior year, the company earned $0.60 earnings per share. The company's revenue for the quarter was up 23.5% compared to the same quarter last year. On average, equities analysts expect that Dycom Industries will post 3.67 earnings per share for the current year.
Dycom Industries Company Profile
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Dycom Industries, Inc provides specialty contracting services in the United States. The company offers program management and engineering services; plans and designs aerial, underground, and buried fiber optic, copper, and coaxial cable systems; and construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.
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