D.A. Davidson Believes DY Won’t Stop HereBy Austin Angelo
D.A. Davidson analyst John B. Rogers reiterated a Buy rating on Dycom (NYSE: DY) today and set a price target of $105. The company’s shares closed yesterday at $92.95, close to its 52-week high of $98.45.
B. Rogers wrote:
“We will update our model and offer additional comments after the conference call with management scheduled for 9:00 AM ET / 6:00 AM PT on Tuesday, November 22nd.”
According to TipRanks.com, Rogers is a 4-star analyst with an average return of 5.4% and a 64.7% success rate. Rogers covers the Industrial Goods sector, focusing on stocks such as Granite Construction Inc., Great Lakes Dredge & Dock, and Layne Christensen Company.
Dycom has an analyst consensus of Strong Buy, with a price target consensus of $108.50.
Based on Dycom’s latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $799 million and quarterly net profit of $51.05 million. In comparison, last year the company earned revenue of $659 million and had a net profit of $30.82 million.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. Most recently, in July 2016, Kimberly Dickens, the VP & Chief HR Officer of DY sold 1,661 shares for a total of $159,240.
Dycom Industries, Inc. provides specialty contracting services throughout the United States and in Canada. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others. It’s also provides services include the placement and splicing of fiber, copper, and coaxial cables. The company was founded in 1969 and is headquartered in Palm Beach Gardens, FL.