Stock Rating Upgrade
The Value Trend Rating for Dycom Industries Inc. (NYSE: DY) improved in recent days from C to B reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
Dycom Industries Inc. (NYSE: DY) stock closed at $179.07 on 6/7/24 after a slight decline of -0.05%. However, below average trading volume at 76% of normal accompanied the decline. The stock has declined -2.9% during the last week but has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
DY’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Dycom Industries has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Dycom Industries has a poor Appreciation Score of 26 but a very high Power Rating of 99, triggering the Positive Value Trend Rating.
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