Wells Fargo & Company Cuts Dycom Industries (NYSE:DY) Price Target to $110.00

Dycom Industries (NYSE:DY – Get Rating) had its price target decreased by Wells Fargo & Company from $120.00 to $110.00 in a report issued on Wednesday, The Fly reports.

Other equities analysts have also issued reports about the stock. UBS Group started coverage on shares of Dycom Industries in a research report on Thursday, January 27th. They issued a buy rating and a $125.00 price objective for the company. TheStreet lowered shares of Dycom Industries from a b- rating to a c+ rating in a research report on Wednesday, March 2nd. StockNews.com started coverage on shares of Dycom Industries in a research report on Thursday, March 31st. They set a buy rating for the company. Finally, B. Riley reduced their price target on shares of Dycom Industries from $120.00 to $115.00 in a research report on Thursday, March 3rd. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat, Dycom Industries presently has a consensus rating of Buy and an average target price of $110.71.

Shares of Dycom Industries stock opened at $78.52 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.55 and a quick ratio of 3.34. Dycom Industries has a 1 year low of $62.88 and a 1 year high of $105.28. The firm’s 50-day moving average is $91.48 and its two-hundred day moving average is $90.14. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 49.38 and a beta of 1.53.

Dycom Industries (NYSE:DY – Get Rating) last issued its earnings results on Wednesday, March 2nd. The construction company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.09. Dycom Industries had a net margin of 1.55% and a return on equity of 5.94%. The company had revenue of $761.40 million for the quarter, compared to analysts’ expectations of $723.83 million. During the same period in the prior year, the business earned ($0.07) EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities analysts expect that Dycom Industries will post 2.99 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Counterpoint Mutual Funds LLC bought a new position in shares of Dycom Industries in the fourth quarter worth $26,000. Tcwp LLC purchased a new stake in Dycom Industries in the 1st quarter worth about $38,000. UMB Bank N A MO purchased a new stake in Dycom Industries in the 4th quarter worth about $39,000. Strs Ohio purchased a new stake in Dycom Industries in the 1st quarter worth about $57,000. Finally, Convergence Investment Partners LLC acquired a new position in Dycom Industries in the 1st quarter worth about $151,000. 92.89% of the stock is currently owned by institutional investors.

Dycom Industries Company Profile (Get Rating)

Dycom Industries, Inc provides specialty 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 placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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