KeyCorp Cuts Dycom Industries (NYSE:DY) Price Target to $201.00

Dycom Industries (NYSE:DY) had its price target decreased by KeyCorp from $229.00 to $201.00 in a research report released on Thursday,Benzinga reports. KeyCorp currently has an overweight rating on the construction company’s stock.

Several other brokerages also recently commented on DY. DA Davidson reaffirmed a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. Wells Fargo & Company lifted their target price on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Raymond James lifted their target price on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Dycom Industries has an average rating of “Buy” and an average target price of $205.38.

Dycom Industries Stock Up 1.1 %

Shares of DY opened at $163.89 on Thursday. The company has a market capitalization of $4.78 billion, a PE ratio of 21.56, a PEG ratio of 1.29 and a beta of 1.42. Dycom Industries has a 12 month low of $123.90 and a 12 month high of $207.20. The stock’s 50-day moving average price is $181.49 and its two-hundred day moving average price is $183.95. 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 declared that its board has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 3.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Dycom Industries

In related news, 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 transaction, the director now owns 8,873 shares in the company, valued at $1,536,005.03. The trade was a 4.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the director now owns 14,533 shares in the company, valued at $2,544,437.64. The trade was a 16.64 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in Dycom Industries by 4.0% during the 3rd quarter. State Street Corp now owns 1,158,585 shares of the construction company’s stock valued at $228,357,000 after purchasing an additional 44,321 shares in the last quarter. FMR LLC increased its stake in Dycom Industries by 2.4% during the 3rd quarter. FMR LLC now owns 772,666 shares of the construction company’s stock valued at $152,292,000 after purchasing an additional 17,862 shares in the last quarter. Hill City Capital LP increased its stake in Dycom Industries by 2.3% during the 3rd quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock valued at $133,985,000 after purchasing an additional 15,000 shares in the last quarter. Principal Financial Group Inc. increased its stake in Dycom Industries by 4.3% during 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in Dycom Industries by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 659,190 shares of the construction company’s stock valued at $114,765,000 after purchasing an additional 8,307 shares in the last quarter. Institutional investors and hedge funds 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.