Brokerages Set Dycom Industries, Inc. (NYSE:DY) Target Price at $81.33

Dycom Industries, Inc. (NYSE:DY) has been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the firm, Market Beat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $81.33.

In other news, CFO H Andrew Deferrari sold 9,500 shares of the business’s stock in a transaction dated Tuesday, December 15th. The shares were sold at an average price of $80.00, for a total value of $760,000.00. Following the completion of the sale, the chief financial officer now owns 94,021 shares in the company, valued at approximately $7,521,680. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven E. Nielsen sold 12,053 shares of the business’s stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $81.89, for a total transaction of $987,020.17. Following the completion of the sale, the chief executive officer now owns 719,995 shares of the company’s stock, valued at approximately $58,960,390.55. The disclosure for this sale can be found here.

A hedge fund recently bought a new stake in Dycom Industries stock. Gerstein Fisher acquired a new stake in Dycom Industries, Inc. (NYSE:DY) during the third quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,539 shares of the company’s stock, valued at approximately $1,197,000.

Dycom Industries (NYSE:DY) traded down 3.095% during trading on Monday, hitting $67.795. 124,424 shares of the company’s stock traded hands. The stock has a market cap of $2.20 billion and a P/E ratio of 24.897. Dycom Industries has a 12 month low of $30.66 and a 12 month high of $90.82. The company’s 50 day moving average is $80.85 and its 200-day moving average is $73.10.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Monday, November 23rd. The company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.23. The firm had revenue of $659.27 million for the quarter, compared to analysts’ expectations of $625.62 million. During the same quarter in the previous year, the company earned $0.59 EPS. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. On average, analysts predict that Dycom Industries will post $3.82 earnings per share for the current year.

A number of equities research analysts have recently commented on the stock. DA Davidson upgraded shares of Dycom Industries from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Monday, December 14th. FBR & Co. raised their target price on shares of Dycom Industries from $88.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, November 25th. Wells Fargo restated a “buy” rating on shares of Dycom Industries in a report on Tuesday, November 24th. Finally, Janney Montgomery Scott cut shares of Dycom Industries to a “hold” rating in a report on Monday, November 9th.

12 Month Chart for NYSE:DY

Dycom Industries, Inc. (NYSE:DY) is a holding company. The Company, through its subsidiaries, provides specialty contracting services throughout the United States and in Canada. The Company operates under the specialty contractor segment, whereby through its subsidiaries, it 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 and others. Its engineering services include the design of aerial, underground and buried fiber optic, and copper and coaxial cable systems. Its construction, maintenance and installation services include the placement and splicing of fiber, copper and coaxial cables. It is also engaged in providing construction and maintenance services for electric and gas utilities, and other customers.

 

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