Dycom Industries, Inc. (NYSE:DY) Receives Average Rating of “Buy” from Analysts

Dycom Industries, Inc. (NYSE:DY) has been given a consensus rating of “Buy” by the eight analysts that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $208.88.

DY has been the subject of several recent analyst reports. DA Davidson restated a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. Raymond James lifted their price target on Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their price target on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, KeyCorp lifted their price target on Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th.

Insider Activity

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

Hedge Funds Weigh In On Dycom Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp raised its position in shares of Dycom Industries by 46.5% in the 3rd quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock valued at $3,988,000 after purchasing an additional 6,418 shares in the last quarter. Nordea Investment Management AB acquired a new position in shares of Dycom Industries in the 4th quarter valued at approximately $1,171,000. JPMorgan Chase & Co. raised its position in shares of Dycom Industries by 65.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock valued at $15,831,000 after purchasing an additional 31,864 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Dycom Industries in the 3rd quarter valued at approximately $773,000. Finally, Advisors Asset Management Inc. raised its position in shares of Dycom Industries by 19.3% in 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. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Stock Up 0.1 %

DY opened at $171.74 on Monday. 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 capitalization of $5.01 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. The business has a 50-day moving average of $182.31 and a two-hundred day moving average of $184.58. Dycom Industries has a 12 month low of $116.10 and a 12 month high of $207.20.

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.