Dycom Industries (DY) is Initiated by Canaccord Genuity to Buy, Price Target at $75

Dycom Industries (DY) was Initiated by Canaccord Genuity to “Buy” and the brokerage firm has set the Price Target at $75. Canaccord Genuity advised their investors in a research report released on Apr 12, 2016.

Many Wall Street Analysts have commented on Dycom Industries. Canaccord Genuity Initiated Dycom Industries on Apr 12, 2016 to “Buy”, Price Target of the shares are set at $75.Shares were Reiterated by Stifel on Mar 3, 2016 to “Buy” and Lowered the Price Target to $ 80 from a previous price target of $100 .

On the company’s financial health, Dycom Industries reported $0.54 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 23, 2016. Analyst had a consensus of $0.56. The company had revenue of $559.50 million for the quarter, compared to analysts expectations of $542.98 million. The company’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Dycom Industries opened for trading at $66.08 and hit $68.63 on the upside on Monday, eventually ending the session at $64.72, with a gain of 0.43% or 0.28 points. The heightened volatility saw the trading volume jump to 6,90,664 shares. Company has a market cap of $2,129 M.

In a different news, on Dec 17, 2015, Steven E Nielsen (President & CEO) sold 12,053 shares at $81.89 per share price. According to the SEC, 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.

Dycom Industries

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