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

Shares of Dycom Industries, Inc. (NYSE:DY) have earned an average recommendation of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $208.88.

A number of research analysts have issued reports on the company. Raymond James boosted their price target on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. KeyCorp increased their target price on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. DA Davidson restated a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company upped their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th.

Insider Transactions at Dycom Industries

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the sale, the director now directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. The trade was a 16.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 8,873 shares of the company’s stock, valued at approximately $1,536,005.03. This trade represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Dycom Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its stake in Dycom Industries by 209.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company’s stock valued at $68,000 after buying an additional 264 shares during the last quarter. Williamson Legacy Group LLC boosted its holdings in Dycom Industries by 4.6% during the fourth quarter. Williamson Legacy Group LLC now owns 4,463 shares of the construction company’s stock valued at $777,000 after acquiring an additional 196 shares during the period. Versor Investments LP bought a new stake in Dycom Industries during the fourth quarter valued at about $235,000. Oppenheimer & Co. Inc. increased its stake in shares of Dycom Industries by 7.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 7,831 shares of the construction company’s stock worth $1,363,000 after purchasing an additional 561 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Dycom Industries by 9.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 15,648 shares of the construction company’s stock worth $2,724,000 after purchasing an additional 1,299 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Price Performance

NYSE DY opened at $190.96 on Thursday. The company has a 50-day moving average price of $182.26 and a two-hundred day moving average price of $183.84. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. Dycom Industries has a 52 week low of $112.17 and a 52 week 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.