Dycom Industries (DY) Receives “Buy” Rating from KeyCorp

Dycom Industries (NYSE:DY)‘s stock had its “buy” rating restated by research analysts at KeyCorp in a report released on Thursday. They currently have a $118.00 price target on the construction company’s stock. KeyCorp’s target price would indicate a potential upside of 3.15% from the company’s previous close.

A number of other equities research analysts have also weighed in on DY. FBR & Co boosted their price objective on shares of Dycom Industries from $98.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, August 30th. Craig Hallum restated a “buy” rating and issued a $90.00 price objective (down from $115.00) on shares of Dycom Industries in a report on Thursday, August 31st. They noted that the move was a valuation call. Canaccord Genuity lowered their price objective on shares of Dycom Industries from $120.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 31st. Deutsche Bank started coverage on shares of Dycom Industries in a report on Tuesday, September 26th. They issued a “buy” rating and a $103.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Dycom Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $115.10.

Shares of Dycom Industries (NYSE DY) traded up $3.70 on Thursday, hitting $114.40. 568,208 shares of the stock were exchanged, compared to its average volume of 670,228. The company has a market cap of $3,309.21, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a current ratio of 3.16, a quick ratio of 2.86 and a debt-to-equity ratio of 1.07. Dycom Industries has a 1 year low of $73.95 and a 1 year high of $115.38.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Monday, November 20th. The construction company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.09. The firm had revenue of $756.20 million during the quarter, compared to analyst estimates of $729.35 million. Dycom Industries had a net margin of 4.46% and a return on equity of 22.49%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 EPS. equities research analysts forecast that Dycom Industries will post 4.09 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Alps Advisors Inc. raised its holdings in Dycom Industries by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 5,126 shares of the construction company’s stock valued at $459,000 after buying an additional 14 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Dycom Industries by 1.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 2,526 shares of the construction company’s stock valued at $226,000 after buying an additional 44 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Dycom Industries by 6.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,298 shares of the construction company’s stock valued at $116,000 after buying an additional 80 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Dycom Industries by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,127 shares of the construction company’s stock valued at $6,099,000 after buying an additional 177 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in Dycom Industries by 4.6% during the 2nd quarter. Amalgamated Bank now owns 4,404 shares of the construction company’s stock valued at $394,000 after buying an additional 192 shares during the last quarter.

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Dycom Industries Company Profile

Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.

Analyst Recommendations for Dycom Industries (NYSE:DY)

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