Dycom Industries (NYSE:DY) Price Target Cut to $200.00 by Analysts at B. Riley

Dycom Industries (NYSE:DY) had its price target cut by B. Riley from $234.00 to $200.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities research analysts have also recently weighed in on DY. DA Davidson reaffirmed a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. KeyCorp lowered their price target on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Raymond James upped their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 4th. One equities 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 stock. According to data from MarketBeat, Dycom Industries has a consensus rating of “Buy” and a consensus price target of $204.38.

Dycom Industries Price Performance

Shares of DY opened at $158.32 on Wednesday. The company has a 50 day moving average price of $174.67 and a 200-day moving average price of $181.12. Dycom Industries has a fifty-two week low of $133.00 and a fifty-two week high of $207.20. The stock has a market capitalization of $4.59 billion, a PE ratio of 20.83, a PEG ratio of 1.29 and a beta of 1.34. 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 declared that its board has approved a stock repurchase program on Wednesday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s stock in a transaction that occurred 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 approximately $2,544,437.64. This represents a 16.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DY. Victory Capital Management Inc. increased its stake in Dycom Industries by 61.6% during the 3rd quarter. Victory Capital Management Inc. now owns 13,906 shares of the construction company’s stock valued at $2,741,000 after purchasing an additional 5,303 shares in the last quarter. KBC Group NV increased its stake in Dycom Industries by 18.0% during the 3rd quarter. KBC Group NV now owns 872 shares of the construction company’s stock valued at $172,000 after purchasing an additional 133 shares in the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of Dycom Industries by 3.3% in the third quarter. Thompson Davis & CO. Inc. now owns 7,505 shares of the construction company’s stock worth $1,479,000 after acquiring an additional 240 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Dycom Industries in the third quarter worth $269,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Dycom Industries by 19.3% in the third quarter. Advisors Asset Management Inc. now owns 37,911 shares of the construction company’s stock worth $7,472,000 after acquiring an additional 6,128 shares during the period. 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.