Dycom Industries, Inc. (NYSE:DY) Receives $206.13 Average Target Price from Analysts

Shares of Dycom Industries, Inc. (NYSE:DY) have earned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $206.38.

Several analysts have weighed in on DY shares. Wells Fargo & Company upped their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. 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. Finally, KeyCorp upped their price target on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday.

Dycom Industries Price Performance

Shares of NYSE:DY opened at $176.54 on Friday. The firm has a market capitalization of $5.15 billion, a price-to-earnings 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 50 day simple moving average is $181.42 and its 200-day simple moving average is $182.00. Dycom Industries has a 12 month low of $109.87 and a 12 month high of $207.20.

Insiders Place Their Bets

In related news, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction on Wednesday, December 18th. The stock was 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 of the company’s stock, valued at approximately $1,536,005.03. This trade represents a 4.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of 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.

Hedge Funds Weigh In On Dycom Industries

Several hedge funds and other institutional investors have recently modified their holdings of DY. Accent Capital Management LLC acquired a new position in Dycom Industries during the third quarter valued at approximately $25,000. Annapolis Financial Services LLC acquired a new position in shares of Dycom Industries during the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new stake in Dycom Industries during the 3rd quarter worth $28,000. Anchor Investment Management LLC increased its holdings in Dycom Industries by 50.4% in the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. Finally, SOA Wealth Advisors LLC. purchased a new position in Dycom Industries in the third quarter valued at about $39,000. 98.33% of the stock is owned by institutional investors and hedge funds.

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.