Dycom Industries, Inc. (NYSE:DY) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Dycom Industries, Inc. (NYSE:DY) have been given an average rating of “Buy” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $135.50.

Several equities research analysts have recently issued reports on DY shares. KeyCorp lifted their price objective on shares of Dycom Industries from $136.00 to $149.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. B. Riley upgraded shares of Dycom Industries from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $101.00 to $172.00 in a research note on Friday, March 8th.

Insider Buying and Selling

In other Dycom Industries news, VP Jason T. Lawson sold 220 shares of Dycom Industries stock in a transaction on Monday, April 1st. The shares were sold at an average price of $140.27, for a total value of $30,859.40. Following the transaction, the vice president now directly owns 7,793 shares in the company, valued at $1,093,124.11. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of Dycom Industries by 40.1% during the first quarter. BlackRock Inc. now owns 4,639,633 shares of the construction company’s stock worth $434,502,000 after acquiring an additional 1,327,595 shares during the period. Peconic Partners LLC increased its stake in shares of Dycom Industries by 0.7% during the fourth quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock worth $375,847,000 after acquiring an additional 21,635 shares during the period. Vanguard Group Inc. increased its stake in shares of Dycom Industries by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock worth $366,406,000 after acquiring an additional 42,121 shares during the period. Alliancebernstein L.P. increased its stake 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 during the period. Finally, State Street Corp increased its stake in shares of Dycom Industries by 0.5% during the second quarter. State Street Corp now owns 1,032,615 shares of the construction company’s stock worth $117,357,000 after acquiring an additional 5,262 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Price Performance

Dycom Industries stock opened at $141.81 on Friday. The stock has a market cap of $4.13 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 0.84 and a beta of 1.38. The company has a fifty day simple moving average of $129.87 and a 200-day simple moving average of $110.10. Dycom Industries has a 12-month low of $78.42 and a 12-month high of $146.32. The company has a current ratio of 3.06, a quick ratio of 2.85 and a debt-to-equity ratio of 0.75.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, February 28th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.15). The firm had revenue of $952.50 million for the quarter, compared to analysts’ expectations of $968.87 million. Dycom Industries had a return on equity of 22.06% and a net margin of 5.24%. Dycom Industries’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $0.83 earnings per share. Equities analysts expect that Dycom Industries will post 7.13 EPS for the current fiscal year.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.