Dycom Industries Inc. (NYSE:DY)‘s stock had its “buy” rating reiterated by research analysts at Wells Fargo & Co. in a research report issued to clients and investors on Wednesday.
Several other brokerages have also recently issued reports on DY. Vetr cut shares of Dycom Industries from a “hold” rating to a “sell” rating and set a $90.92 price objective on the stock. in a research note on Monday, August 8th. DA Davidson set a $110.00 price objective on shares of Dycom Industries and gave the stock a “buy” rating in a research note on Monday, August 22nd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Dycom Industries has an average rating of “Buy” and a consensus price target of $98.57.
Dycom Industries (NYSE:DY) opened at 82.10 on Wednesday. The stock has a market cap of $2.58 billion, a P/E ratio of 21.11 and a beta of 1.56. The firm’s 50-day moving average is $83.92 and its 200-day moving average is $80.06. Dycom Industries has a 1-year low of $47.10 and a 1-year high of $98.45.
Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported $1.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.09. The company had revenue of $789.16 million for the quarter, compared to analysts’ expectations of $770.66 million. Dycom Industries had a net margin of 4.82% and a return on equity of 27.39%. The business’s revenue was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS. On average, analysts forecast that Dycom Industries will post $5.37 EPS for the current year.
In other Dycom Industries news, COO Timothy R. Estes sold 10,000 shares of Dycom Industries stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $96.03, for a total value of $960,300.00. Following the completion of the sale, the chief operating officer now directly owns 233,812 shares in the company, valued at $22,452,966.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas G. Baxter sold 1,556 shares of Dycom Industries stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $93.59, for a total transaction of $145,626.04. Following the completion of the sale, the director now owns 21,562 shares of the company’s stock, valued at $2,017,987.58. The disclosure for this sale can be found here. Corporate insiders own 4.96% of the company’s stock.
A number of hedge funds have recently bought and sold shares of DY. Tuttle Tactical Management LLC acquired a new stake in Dycom Industries during the second quarter worth about $116,000. Financial Architects Inc boosted its stake in Dycom Industries by 1,266.3% in the second quarter. Financial Architects Inc now owns 1,339 shares of the company’s stock worth $120,000 after buying an additional 1,241 shares during the period. Societe Generale acquired a new stake in Dycom Industries during the second quarter worth about $125,000. C M Bidwell & Associates Ltd. acquired a new stake in Dycom Industries during the second quarter worth about $193,000. Finally, Commerce Bank acquired a new stake in Dycom Industries during the second quarter worth about $202,000.
About Dycom Industries
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities.
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