Dycom Industries (DY) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Dycom Industries (NYSE:DY) from a sell rating to a hold rating in a research note issued to investors on Saturday, ValuEngine reports.

Several other brokerages have also recently commented on DY. Canaccord Genuity decreased their price objective on shares of Dycom Industries from $84.00 to $68.00 and set a buy rating for the company in a research note on Thursday, February 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Dycom Industries from a strong sell rating to a hold rating in a research note on Tuesday, April 30th. B. Riley upgraded shares of Dycom Industries from a neutral rating to a buy rating and decreased their price objective for the company from $84.00 to $60.00 in a research note on Wednesday, February 27th. DA Davidson decreased their price objective on shares of Dycom Industries from $77.00 to $50.00 and set a neutral rating for the company in a research note on Thursday, February 28th. Finally, Craig Hallum decreased their price objective on shares of Dycom Industries from $75.00 to $51.00 and set a buy rating for the company in a research note on Thursday, February 28th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Dycom Industries has a consensus rating of Buy and an average target price of $76.80.

DY stock opened at $52.06 on Friday. The company has a market capitalization of $1.63 billion, a P/E ratio of 18.73, a P/E/G ratio of 3.12 and a beta of 1.45. The company has a quick ratio of 3.52, a current ratio of 3.85 and a debt-to-equity ratio of 1.08. Dycom Industries has a 52 week low of $41.78 and a 52 week high of $117.40.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, February 27th. The construction company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). The company had revenue of $748.62 million during the quarter, compared to analyst estimates of $719.25 million. Dycom Industries had a return on equity of 11.24% and a net margin of 2.01%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the business earned $0.12 earnings per share. As a group, equities research analysts forecast that Dycom Industries will post 2.55 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in DY. Retirement Systems of Alabama lifted its stake in shares of Dycom Industries by 0.5% in the 4th quarter. Retirement Systems of Alabama now owns 40,578 shares of the construction company’s stock valued at $2,193,000 after purchasing an additional 212 shares during the period. Campbell Newman Asset Management Inc. lifted its stake in shares of 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 valued at $413,000 after purchasing an additional 214 shares during the period. Bank of Montreal Can lifted its stake in shares of Dycom Industries by 17.1% in the 4th quarter. Bank of Montreal Can now owns 1,686 shares of the construction company’s stock valued at $91,000 after purchasing an additional 246 shares during the period. Arizona State Retirement System lifted its stake in shares of Dycom Industries by 1.3% in the 4th quarter. Arizona State Retirement System now owns 22,463 shares of the construction company’s stock valued at $1,214,000 after purchasing an additional 284 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of 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 valued at $80,000 after purchasing an additional 288 shares during the period. Institutional investors and hedge funds own 94.01% of the company’s stock.

Dycom Industries Company Profile

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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