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

Shares of Dycom Industries, Inc. (NYSE:DY) have earned an average recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat.com 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 1 year price target among analysts that have issued ratings on the stock in the last year is $206.13.

DY has been the topic of a number of research reports. DA Davidson restated a “buy” rating and issued a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. Wells Fargo & Company boosted their price target 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. Finally, KeyCorp raised their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th.

Dycom Industries Stock Performance

Shares of DY opened at $180.84 on Friday. Dycom Industries has a 1 year low of $107.53 and a 1 year high of $207.20. 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 stock’s fifty day moving average price is $181.34 and its two-hundred day moving average price is $181.61. The firm has a market cap of $5.28 billion, a PE ratio of 23.79, a PEG ratio of 1.45 and a beta of 1.43.

Insider Activity at Dycom Industries

In related news, Director Jennifer M. Fritzsche sold 430 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total value of $74,437.30. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of Dycom Industries by 65.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock valued at $15,831,000 after buying an additional 31,864 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Dycom Industries by 4.3% during 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. Franklin Resources Inc. lifted its holdings in shares of Dycom Industries by 17.7% in the 3rd quarter. Franklin Resources Inc. now owns 154,814 shares of the construction company’s stock worth $29,237,000 after acquiring an additional 23,270 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Dycom Industries in the 3rd quarter valued at $100,000. Finally, Anchor Investment Management LLC grew its holdings in shares of Dycom Industries by 37.6% during the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after purchasing an additional 73 shares during the last quarter. 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.