Dycom Industries Inc DY:NYSE

Last Price$44.46NYSE Previous Close - Last Trade as of 6:30PM ET 2/14/20

Today's Change0(0.00%)
Bid (Size)$38.35 (5)
Ask (Size)$50.97 (1)
Day Low / HighN/A - N/A
Volume229.1 K

Street Color: Dycom Industries Upgraded to Buy at B Riley FBR; Says All Bad News Now Priced-In

11:28AM ET 2/27/2019 MT Newswires
B Riley FBR upgraded Dycom Industries (DY) shares to buy following disappointing fourth-quarter 2019 results and an intraday pullback in the shares of 27% to $45, citing expectations that "all the bad news" is now in the stock.

The upgrade was based on improving seasonal weather that should provide Dycom the opportunity to increase its activities at a time when total backlog is high, positive near- and long- term trends for fiber/5G wireless/converged network capital investment by telcom and cable customers and current share repurchase authorization of $150 million that is expected to be executed near-term and likely up-sized.

FBR said there is meaningful potential upside in the stock over the next two years amid "valuation, which under-appreciates the long-term organic growth and value creation potential at Dycom."

(Street Color news is derived from real time chats with market professionals subscribed to the Ask Alyce Premium Chat service on Bloomberg and ICE IM. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 43.90, Change: -18.10, Percent Change: -29.19