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

Shares of Dycom Industries, Inc. (NYSE:DY) have received an average rating of “Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. Seven investment 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 objective among analysts that have updated their coverage on the stock in the last year is $206.38.

Several equities research analysts have recently weighed in on DY shares. DA Davidson reissued a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th. KeyCorp boosted their price objective on shares of Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 15th.

Dycom Industries Stock Performance

NYSE:DY opened at $176.54 on Friday. The firm has a market capitalization of $5.15 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.43. 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 business’s fifty day moving average price is $181.42 and its 200 day moving average price is $182.00. Dycom Industries has a 12 month low of $109.87 and a 12 month high of $207.20.

Insider Buying and Selling

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

Institutional Trading of Dycom Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fulton Bank N.A. increased its position in Dycom Industries by 12.0% during the 4th quarter. Fulton Bank N.A. now owns 4,687 shares of the construction company’s stock worth $816,000 after purchasing an additional 502 shares during the period. Nordea Investment Management AB purchased a new stake in shares of Dycom Industries in the fourth quarter valued at approximately $1,171,000. JPMorgan Chase & Co. grew its holdings in Dycom Industries by 65.8% during the third quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock worth $15,831,000 after acquiring an additional 31,864 shares during the period. Principal Financial Group Inc. raised its position in Dycom Industries by 4.3% in the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock worth $131,278,000 after acquiring an additional 27,370 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Dycom Industries by 17.7% in the third quarter. Franklin Resources Inc. now owns 154,814 shares of the construction company’s stock valued at $29,237,000 after acquiring an additional 23,270 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.