Wells Fargo & Company Reaffirms Outperform Rating for Dycom Industries, Inc. (DY)

Dycom Industries, Inc. (NYSE:DY)‘s stock had its “outperform” rating restated by research analysts at Wells Fargo & Company in a research report issued on Tuesday. They currently have a $109.00 target price on the construction company’s stock, up from their prior target price of $88.00. Wells Fargo & Company’s price objective would suggest a potential upside of 10.98% from the stock’s previous close.

Several other equities research analysts have also commented on DY. BidaskClub lowered Dycom Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. KeyCorp upgraded Dycom Industries from a “sector weight” rating to an “overweight” rating and set a $87.00 target price on the stock in a research report on Wednesday, August 30th. FBR & Co upped their target price on Dycom Industries from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, August 30th. Craig Hallum restated a “buy” rating and set a $90.00 target price (down previously from $115.00) on shares of Dycom Industries in a research report on Thursday, August 31st. They noted that the move was a valuation call. Finally, Canaccord Genuity cut their target price on Dycom Industries from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $107.00.

Shares of Dycom Industries (NYSE DY) opened at $98.22 on Tuesday. The firm has a market capitalization of $2,800.00, a PE ratio of 17.12, a PEG ratio of 1.68 and a beta of 1.27. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.95 and a quick ratio of 2.69. Dycom Industries has a one year low of $70.33 and a one year high of $110.64.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Monday, November 20th. The construction company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.09. The company had revenue of $756.20 million during the quarter, compared to analysts’ expectations of $729.35 million. Dycom Industries had a return on equity of 26.68% and a net margin of 5.13%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.67 earnings per share. sell-side analysts expect that Dycom Industries will post 4.35 EPS for the current year.

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A number of large investors have recently made changes to their positions in DY. Capstone Asset Management Co. boosted its holdings in Dycom Industries by 3.8% in the second quarter. Capstone Asset Management Co. now owns 2,448 shares of the construction company’s stock worth $219,000 after acquiring an additional 90 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Dycom Industries by 4.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,460 shares of the construction company’s stock worth $1,026,000 after acquiring an additional 496 shares in the last quarter. LS Investment Advisors LLC boosted its holdings in Dycom Industries by 16.0% in the second quarter. LS Investment Advisors LLC now owns 2,439 shares of the construction company’s stock worth $218,000 after acquiring an additional 337 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Dycom Industries by 2.4% in the second quarter. Nisa Investment Advisors LLC now owns 4,230 shares of the construction company’s stock worth $379,000 after acquiring an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in Dycom Industries by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the construction company’s stock worth $725,000 after acquiring an additional 200 shares in the last quarter.

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 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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