Raymond James Boosts Dycom Industries (NYSE:DY) Price Target to $215.00

Dycom Industries (NYSE:DY) had its target price boosted by Raymond James from $210.00 to $215.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the construction company’s stock. Raymond James’ price target indicates a potential upside of 12.59% from the company’s previous close.

A number of other research analysts have also commented on DY. KeyCorp lifted their price objective on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, DA Davidson restated a “buy” rating and issued a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Dycom Industries presently has an average rating of “Buy” and an average target price of $208.88.

Dycom Industries Price Performance

Shares of DY opened at $190.96 on Tuesday. Dycom Industries has a 1-year low of $112.17 and a 1-year high of $207.20. The stock has a market cap of $5.57 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The firm has a fifty day moving average price of $182.26 and a 200 day moving average price of $183.84.

Insider Activity at Dycom Industries

In related news, Director Jennifer M. Fritzsche sold 430 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the transaction, the director now owns 8,873 shares of the company’s stock, valued at approximately $1,536,005.03. This represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the transaction, the director now directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.28% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

Large investors have recently made changes to their positions in the business. Stifel Financial Corp increased its position in shares of Dycom Industries by 46.5% in the third quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock worth $3,988,000 after acquiring an additional 6,418 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Dycom Industries in the fourth quarter worth $1,171,000. JPMorgan Chase & Co. increased its position in shares of Dycom Industries by 65.8% in the third quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock worth $15,831,000 after acquiring an additional 31,864 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in Dycom Industries during the 3rd quarter valued at $773,000. Finally, Advisors Asset Management Inc. grew its holdings in Dycom Industries by 19.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 37,911 shares of the construction company’s stock valued at $7,472,000 after purchasing an additional 6,128 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.