DA Davidson Reaffirms “Buy” Rating for Dycom Industries (NYSE:DY)

DA Davidson reissued their buy rating on shares of Dycom Industries (NYSE:DY) in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a $210.00 price objective on the construction company’s stock.

DY has been the subject of several other reports. Wells Fargo & Company increased their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. B. Riley raised their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Bank of America boosted their price objective on shares of 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 Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, KeyCorp boosted their price target on Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Dycom Industries currently has a consensus rating of “Buy” and a consensus target price of $206.13.

Dycom Industries Trading Up 3.4 %

NYSE:DY opened at $182.59 on Tuesday. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.68 and a beta of 1.44. Dycom Industries has a 52 week low of $99.54 and a 52 week high of $207.20. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average of $189.40 and a 200 day moving average of $178.80.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, August 21st. The construction company reported $2.46 EPS for the quarter, beating 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 firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business posted $2.03 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Dycom Industries will post 7.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DY. Accent Capital Management LLC acquired a new position in shares of Dycom Industries in the 3rd quarter valued at $25,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Dycom Industries in the first quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of Dycom Industries during the 3rd quarter worth about $28,000. Annapolis Financial Services LLC purchased a new stake in shares of Dycom Industries during the 3rd quarter worth about $29,000. Finally, Anchor Investment Management LLC grew its position in shares of Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after acquiring an additional 65 shares during the period. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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.