Dycom Industries (DY) Stock Rating Lowered by ValuEngine

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Dycom Industries (NYSE:DY) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, ValuEngine reports.

Several other equities analysts have also recently weighed in on the company. Zacks Investment Research raised Dycom Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 30th. Stephens lowered their price target on Dycom Industries from $130.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday, March 4th. DA Davidson lowered their price target on Dycom Industries from $77.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, February 28th. Craig Hallum lowered their price target on Dycom Industries from $75.00 to $51.00 and set a “buy” rating on the stock in a report on Thursday, February 28th. Finally, Canaccord Genuity lowered their price target on Dycom Industries from $84.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, February 28th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $76.80.

NYSE DY opened at $57.05 on Monday. The firm has a market cap of $1.46 billion, a PE ratio of 20.52, a PEG ratio of 2.82 and a beta of 1.45. The company has a current ratio of 3.85, a quick ratio of 3.52 and a debt-to-equity ratio of 1.08. Dycom Industries has a 1-year low of $41.78 and a 1-year high of $101.91.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Tuesday, May 21st. The construction company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.11. The firm had revenue of $883.70 million for the quarter, compared to analysts’ expectations of $771.90 million. Dycom Industries had a return on equity of 11.24% and a net margin of 2.01%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. As a group, analysts forecast that Dycom Industries will post 2.55 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Campbell Newman Asset Management Inc. raised its holdings in Dycom Industries by 2.4% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 8,994 shares of the construction company’s stock worth $413,000 after purchasing an additional 214 shares during the period. Bank of Montreal Can raised its holdings in Dycom Industries by 17.1% in the 4th quarter. Bank of Montreal Can now owns 1,686 shares of the construction company’s stock worth $91,000 after purchasing an additional 246 shares during the period. Arizona State Retirement System raised its holdings in Dycom Industries by 1.3% in the 4th quarter. Arizona State Retirement System now owns 22,463 shares of the construction company’s stock worth $1,214,000 after purchasing an additional 284 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Dycom Industries by 24.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,476 shares of the construction company’s stock worth $80,000 after purchasing an additional 288 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Dycom Industries by 16.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,201 shares of the construction company’s stock worth $119,000 after purchasing an additional 307 shares during the period. 92.65% of the stock is currently owned by institutional investors.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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Analyst Recommendations for Dycom Industries (NYSE:DY)

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