Dycom Industries (NYSE:DY) Downgraded by Zacks Research to “Strong Sell”

Dycom Industries (NYSE:DY) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on DY. Vertical Research began coverage on Dycom Industries in a research report on Tuesday, December 23rd. They set a “buy” rating and a $420.00 price objective for the company. Guggenheim started coverage on Dycom Industries in a research note on Thursday, January 22nd. They set a “buy” rating and a $510.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Dycom Industries in a research report on Wednesday, January 21st. Wells Fargo & Company upped their price objective on shares of Dycom Industries from $315.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Finally, UBS Group lifted their target price on shares of Dycom Industries from $373.00 to $400.00 and gave the company a “buy” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $395.20.

Dycom Industries Trading Down 2.1%

Shares of Dycom Industries stock opened at $413.68 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.90 and a current ratio of 3.09. The company has a market capitalization of $11.98 billion, a P/E ratio of 40.72, a PEG ratio of 1.85 and a beta of 1.36. Dycom Industries has a 1 year low of $131.37 and a 1 year high of $445.52. The company’s fifty day moving average is $367.88 and its two-hundred day moving average is $316.29.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, November 19th. The construction company reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.48. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.41 billion. Dycom Industries had a net margin of 5.75% and a return on equity of 22.21%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.68 earnings per share. Analysts forecast that Dycom Industries will post 7.13 earnings per share for the current year.

Insiders Place Their Bets

In other Dycom Industries news, Director Eitan Gertel sold 3,645 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $345.62, for a total value of $1,259,784.90. Following the completion of the transaction, the director directly owned 15,997 shares of the company’s stock, valued at approximately $5,528,883.14. This trade represents a 18.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.72% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in Dycom Industries by 4,626.1% during the first quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock worth $331,000 after purchasing an additional 2,128 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Dycom Industries by 7.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock worth $10,622,000 after buying an additional 4,985 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Dycom Industries in the second quarter valued at approximately $435,000. CWM LLC raised its position in shares of Dycom Industries by 99.0% in the second quarter. CWM LLC now owns 1,562 shares of the construction company’s stock valued at $382,000 after buying an additional 777 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Dycom Industries by 5.7% during the second quarter. Nordea Investment Management AB now owns 7,155 shares of the construction company’s stock valued at $1,747,000 after buying an additional 384 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

About Dycom Industries

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.