Dycom Industries (NYSE:DY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Dycom Industries, Inc. (NYSE:DY) saw unusually-high trading volume on Tuesday . Approximately 712,489 shares changed hands during trading, an increase of 123% from the previous session’s volume of 319,680 shares.The stock last traded at $175.50 and had previously closed at $174.63.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DY shares. KeyCorp lifted their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. DA Davidson reaffirmed a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. Finally, Wells Fargo & Company increased their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $206.13.

Dycom Industries Price Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The firm has a fifty day simple moving average of $184.89 and a two-hundred day simple moving average of $181.69. The firm has a market cap of $5.12 billion, a PE ratio of 23.09, a PEG ratio of 1.45 and a beta of 1.41.

Insider Activity at Dycom Industries

In other news, Director Jennifer M. Fritzsche sold 430 shares of the 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 sale, the director now directly owns 8,873 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. 4.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dycom Industries

Large investors have recently bought and sold shares of the business. Accent Capital Management LLC purchased a new position in shares of Dycom Industries during the third quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in Dycom Industries in the third quarter worth approximately $28,000. Annapolis Financial Services LLC purchased a new position in Dycom Industries during the 3rd quarter worth $29,000. Anchor Investment Management LLC raised its position in Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. Finally, SOA Wealth Advisors LLC. purchased a new stake in shares of Dycom Industries in the 3rd quarter worth $39,000. Hedge funds and other institutional investors 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.