KeyCorp Raises Dycom Industries (NYSE:DY) Price Target to $229.00

Dycom Industries (NYSE:DY) had its price objective upped by KeyCorp from $227.00 to $229.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other equities analysts have also issued research reports about the stock. DA Davidson restated 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 boosted their price objective 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 research 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.com, the stock currently has an average rating of “Buy” and a consensus target price of $206.38.

Dycom Industries Trading Down 1.4 %

NYSE DY opened at $176.54 on Wednesday. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.45 and a beta of 1.43. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. Dycom Industries has a one year low of $109.87 and a one year high of $207.20. The company’s 50 day moving average price is $181.40 and its 200 day moving average price is $181.84.

Insider Activity

In related news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction 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 completion of the sale, the director now owns 8,873 shares in the company, valued at approximately $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’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 completion of the sale, the director now directly owns 14,533 shares in the company, valued at $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.28% of the company’s stock.

Hedge Funds Weigh In On Dycom Industries

Hedge funds have recently bought and sold shares of the company. Accent Capital Management LLC acquired a new stake in shares of Dycom Industries during the third quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Dycom Industries during the 3rd quarter valued at about $28,000. Annapolis Financial Services LLC acquired a new stake in Dycom Industries during the third quarter worth about $29,000. Anchor Investment Management LLC lifted its holdings in Dycom Industries by 50.4% in the second quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after acquiring an additional 65 shares during the last quarter. Finally, SOA Wealth Advisors LLC. acquired a new position in Dycom Industries in the third quarter valued at approximately $39,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

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.