StockNews.com upgrades Dycom Industries (NYSE:DY) to buy


Dycom Industries (NYSE: DY – Get Note) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other research analysts have also recently commented on the company. DA Davidson raised its price target on Dycom Industries from $85.00 to $115.00 and gave the stock a “buy” rating in a Wednesday, November 24 report. Wells Fargo & Company raised its price target on Dycom Industries from $110.00 to $120.00 and gave the company an “overweight” rating in a Thursday, March 3 research note. KeyCorp raised its price target on Dycom Industries from $104.00 to $115.00 and gave the company an “overweight” rating in a Wednesday, November 24 research note. TheStreet downgraded Dycom Industries from a “b-” rating to a “c+” rating in a Wednesday, March 2 research note. Finally, UBS Group began covering Dycom Industries in a research report on Thursday, January 27. They issued a “buy” rating and a target price of $125.00 for the company. One investment analyst rated the stock with a sell rating and seven gave the stock a buy rating. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $112.14.

NYSE DY opened at $99.10 on Tuesday. The company has a quick ratio of 3.34, a current ratio of 3.55 and a leverage ratio of 1.09. Dycom Industries has a 12-month low of $62.88 and a 12-month high of $105.28. The company has a market capitalization of $2.93 billion, a price-earnings ratio of 62.33 and a beta of 1.53. The company’s 50-day moving average is $90.62 and its 200-day moving average is $85.32.

(A d)

Mycotopia and Ei.Ventures ask to partner to provide herbal treatments to the world.

Dycom Industries (NYSE:DY – Get Rating) last released quarterly earnings data on Wednesday, March 2. The construction company reported earnings per share of $0.02 for the quarter, beating Thomson Reuters consensus estimate of $0.07 ($0.09). Dycom Industries had a return on equity of 5.94% and a net margin of 1.55%. The company posted revenue of $761.40 million for the quarter, versus a consensus estimate of $723.83 million. In the same quarter last year, the company posted EPS of ($0.07). Dycom Industries’ revenue for the quarter increased 1.4% year over year. On average, research analysts expect Dycom Industries to post earnings per share of 2.99 for the current fiscal year.

A number of institutional investors have been buying and selling shares of DY recently. Alliancebernstein LP increased its stake in Dycom Industries by 1,195.0% in the fourth quarter. Alliancebernstein LP now owns 2,100,234 shares of the construction company valued at $196,918,000 after purchasing an additional 1,938,052 shares in the last quarter. William Blair Investment Management LLC increased its position in Dycom Industries shares by 68,745.3% during the third quarter. William Blair Investment Management LLC now owns 444,052 shares of the construction company worth $31,634,000 after acquiring 443,407 additional shares last quarter. Point72 Asset Management LP bought a new stake in shares of Dycom Industries during the third quarter at a value of $25,440,000. Norges Bank bought a new stake in shares of Dycom Industries during the fourth quarter at a value of $22,792,000. Finally, Granite Investment Partners LLC purchased a new stake in shares of Dycom Industries during the fourth quarter at a value of $20,640,000. Institutional investors and hedge funds hold 91.06% of the company’s shares.

Dycom Industries Company Profile (Get an evaluation)

Dycom Industries, Inc provides specialized contracting services in the United States. The company offers program management and engineering services; plans and designs aerial, underground and buried fiber optic, copper and coaxial cable systems; and construction, maintenance and installation services, such as fiber optic, copper and coaxial cable placement and splicing to telecommunications providers.

Further reading

Analyst Recommendations for Dycom Industries (NYSE: DY)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Dycom Industries right now?

Before you consider Dycom Industries, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market ripples…and Dycom Industries was not on the list.

Although Dycom Industries currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Previous Installment loans: Fintechs are gaining ground on loan forecasts of $212 billion
Next CER provides reasons for NGTL's denial related to business