Dycom Industries (NYSE:DY) Upgraded at B. Riley

B. Riley upgraded shares of Dycom Industries (NYSE:DY) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the stock. KeyCorp dropped their price objective on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Raymond James increased their target price on Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, DA Davidson reissued a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $204.38.

Dycom Industries Stock Up 0.7 %

Shares of Dycom Industries stock opened at $159.29 on Tuesday. 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 stock has a market cap of $4.62 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.29 and a beta of 1.34. The firm’s 50-day moving average is $174.28 and its two-hundred day moving average is $180.97. Dycom Industries has a 1 year low of $133.00 and a 1 year high of $207.20.

Dycom Industries announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to buy up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the transaction, the director now owns 14,533 shares in the company, valued at $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.28% of the company’s stock.

Institutional Trading of Dycom Industries

Several large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in shares of Dycom Industries by 61.6% in the third quarter. Victory Capital Management Inc. now owns 13,906 shares of the construction company’s stock worth $2,741,000 after buying an additional 5,303 shares during the last quarter. KBC Group NV increased its position in shares of Dycom Industries by 18.0% in the 3rd quarter. KBC Group NV now owns 872 shares of the construction company’s stock valued at $172,000 after acquiring an additional 133 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Dycom Industries in the 3rd quarter worth $269,000. Advisors Asset Management Inc. raised its stake in Dycom Industries by 19.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 37,911 shares of the construction company’s stock worth $7,472,000 after acquiring an additional 6,128 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in Dycom Industries by 25.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock worth $57,000 after acquiring an additional 59 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

About Dycom Industries

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.