Dycom Industries (NYSE:DY) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Dycom Industries (NYSE:DY – Get Rating) in a report published on Thursday. The firm issued a buy rating on the construction company’s stock.

A number of other equities analysts have also commented on the stock. Craig Hallum lifted their price target on shares of Dycom Industries from $110.00 to $124.00 and gave the stock a buy rating in a report on Thursday, March 2nd. Wells Fargo & Company boosted their target price on shares of Dycom Industries from $88.00 to $105.00 and gave the company an equal weight rating in a report on Thursday, March 2nd. Finally, UBS Group boosted their target price on shares of Dycom Industries from $124.00 to $125.00 and gave the company a buy rating in a report on Thursday, March 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dycom Industries presently has an average rating of Moderate Buy and an average target price of $125.80.

Dycom Industries Price Performance

Shares of NYSE:DY opened at $95.39 on Thursday. The firm has a market cap of $2.80 billion, a PE ratio of 20.12 and a beta of 1.29. The firm’s fifty day moving average is $92.43 and its 200-day moving average is $98.37. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.93 and a current ratio of 3.18. Dycom Industries has a 52 week low of $76.21 and a 52 week high of $122.13.

Dycom Industries (NYSE:DY – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The construction company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.66. The company had revenue of $917.50 million for the quarter, compared to analyst estimates of $815.89 million. Dycom Industries had a net margin of 3.73% and a return on equity of 16.43%. Dycom Industries’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 earnings per share. Sell-side analysts predict that Dycom Industries will post 4.97 earnings per share for the current year.

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, Director Richard K. Sykes sold 2,000 shares of Dycom Industries stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $92.35, for a total value of $184,700.00. Following the completion of the sale, the director now directly owns 17,854 shares of the company’s stock, valued at $1,648,816.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

Several hedge funds and other institutional investors have recently bought and sold shares of DY. Millennium Management LLC increased its stake in Dycom Industries by 149.4% in the fourth quarter. Millennium Management LLC now owns 883,489 shares of the construction company’s stock valued at $82,695,000 after purchasing an additional 529,178 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Dycom Industries by 43.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,728,780 shares of the construction company’s stock worth $161,814,000 after acquiring an additional 524,292 shares in the last quarter. Norges Bank bought a new stake in shares of Dycom Industries during the fourth quarter worth about $31,646,000. Point72 Asset Management L.P. bought a new stake in shares of Dycom Industries during the third quarter worth about $30,636,000. Finally, Peconic Partners LLC increased its position in shares of Dycom Industries by 8.8% during the third quarter. Peconic Partners LLC now owns 2,481,987 shares of the construction company’s stock worth $237,104,000 after acquiring an additional 199,950 shares in the last quarter. 92.82% of the stock is owned by institutional investors.

About Dycom Industries

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.