UPDATE: D.A. Davidson Upgrades Dycom Industries Following Q4 FY13 EPS Report
In a report published Thursday, D.A. Davidson analyst John B. Rogers upgraded the rating on Dycom Industries (NYSE: DY) from Neutral to Buy, and raised the price target from $26.00 to $30.00.
In the report, D.A. Davidson noted, “Dycom reported EPS of $0.43 for the company's Q4 FY13, modestly below our estimate of $0.46 per share although up from $0.39 last year. The company reported a sharp increase in revenue, up 50%, due to a recent acquisition, but also improved organic growth of 7%...We are revising our earnings expectations, as indicated below and shown in the attached model. Our near-term quarterly estimates have been reduced to incorporate slightly lower margin assumptions due to integration and other costs as well as a higher share count, partially offset by higher revenue growth expectations.”
Dycom Industries closed on Thursday at $24.77.
Latest Ratings for DY
|Nov 2014||Wells Fargo||Initiates Coverage on||Market Perform|
|May 2014||Stifel Nicolaus||Maintains||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.