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

Dycom Industries, Inc. (NYSE:DY) has received a consensus rating of “Buy” from the eight research firms that are covering the firm, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $206.38.

A number of equities research analysts recently issued reports on the stock. KeyCorp lifted their price target on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday. DA Davidson reissued a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company raised their price target 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.

Dycom Industries Stock Performance

Shares of DY stock opened at $178.82 on Friday. 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 12-month low of $109.72 and a 12-month high of $207.20. The business’s 50 day moving average is $181.31 and its two-hundred day moving average is $181.86. The company has a market capitalization of $5.22 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.45 and a beta of 1.43.

Insider Transactions at Dycom Industries

In related news, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 8,873 shares in the company, valued at approximately $1,536,005.03. This trade represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.28% of the company’s stock.

Institutional Trading of Dycom Industries

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC raised its holdings in Dycom Industries by 6.3% in the 2nd quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company’s stock valued at $275,324,000 after buying an additional 96,846 shares during the period. State Street Corp raised its stake in shares of Dycom Industries by 4.0% in the 3rd quarter. State Street Corp now owns 1,158,585 shares of the construction company’s stock valued at $228,357,000 after acquiring an additional 44,321 shares during the period. FMR LLC lifted its holdings in shares of Dycom Industries by 2.4% in the 3rd quarter. FMR LLC now owns 772,666 shares of the construction company’s stock worth $152,292,000 after acquiring an additional 17,862 shares during the last quarter. Hill City Capital LP boosted its position in shares of Dycom Industries by 2.3% during the 3rd quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock worth $133,985,000 after purchasing an additional 15,000 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Dycom Industries by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock valued at $131,278,000 after purchasing an additional 27,370 shares during the last quarter. 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.