Canaccord Genuity Initiates Coverage on Dycom Industries to Buy

Canaccord Genuity Initiates Coverage on Dycom Industries(NYSE:DY). The shares have been rated Buy. The rating by Canaccord Genuity was issued on Apr 11, 2016.

In a different note, On Mar 3, 2016, Stifel Nicolaus said it Maintains its rating on Dycom Industries. In the research note, the firm Lowers the price-target to $100.00 per share. The shares have been rated ‘Buy’ by the firm.

Dycom Industries (DY) shares turned negative on Fridays trading session with the shares closing down -0.63 points or -0.93% at a volume of 5,88,796. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $67.52. The peak price level was also seen at $67.52 while the days lowest was $66.4. Finally the shares closed at $67.13. The 52-week high of the shares is $90.82 while the 52-week low is $45.45. According to the latest information available, the market cap of the company is $2,208 M.

Dycom Industries(DY) last announced its earnings results on Feb 23, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $559.47M. Analysts had an estimated revenue of $543.98M. Earnings per share were $0.54. Analysts had estimated an EPS of $0.57.

Several Insider Transactions has been reported to the SEC. On Dec 17, 2015, Steven E Nielsen (President & CEO) sold 12,053 shares at $81.89 per share price.Also, On Dec 16, 2015, H Andrew Deferrari (Sr. VP & CFO) sold 9,500 shares at $80.00 per share price.On Dec 1, 2015, Thomas G Baxter (director) sold 15,000 shares at $87.41 per share price, according to the Form-4 filing with the securities and exchange commission.

Dycom Industries Inc. is a provider of specialty contracting services throughout the United States and in Canada. The Company through its subsidiaries 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. It offers engineering services which include the design of aerial underground and buried fiber optic copper and coaxial cable systems that extend from the telephone company central office or cable operator headend to the consumer’s home or business. It also provides tower construction lines and antenna installation and foundation and equipment pad construction for wireless carriers as well as equipment installation and material fabrication and site testing services.

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