Dycom Industries (NYSE:DY) Stock Price Expected to Rise, Raymond James Analyst Says

Dycom Industries (NYSE:DY) had its target price boosted by investment analysts at Raymond James from $210.00 to $215.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “strong-buy” rating on the construction company’s stock. Raymond James’ price target would indicate a potential upside of 12.59% from the company’s previous close.

A number of other research analysts also recently commented on DY. Wells Fargo & Company increased their price objective 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. KeyCorp increased their price objective on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Finally, DA Davidson reiterated a “buy” rating and set a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Dycom Industries has an average rating of “Buy” and an average price target of $208.88.

Dycom Industries Price Performance

DY opened at $190.96 on Tuesday. The company has a fifty day simple moving average of $182.26 and a 200 day simple moving average of $183.84. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.61 and a beta of 1.42. Dycom Industries has a twelve month low of $112.17 and a twelve month high of $207.20. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89.

Insider Transactions at Dycom Industries

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $175.08, for a total value of $507,732.00. Following the sale, the director now owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction dated Wednesday, December 18th. The stock was 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 position. The disclosure for this sale can be found here. Insiders own 4.28% of the company’s stock.

Institutional Trading of Dycom Industries

A number of large investors have recently modified their holdings of DY. Accent Capital Management LLC acquired a new position in Dycom Industries during the 3rd quarter valued at about $25,000. Annapolis Financial Services LLC acquired a new position in Dycom Industries during the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in Dycom Industries during the 3rd quarter valued at about $28,000. SOA Wealth Advisors LLC. acquired a new position in Dycom Industries during the 3rd quarter valued at about $39,000. Finally, Westside Investment Management Inc. acquired a new position in shares of Dycom Industries in the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds 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.