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

Shares of Dycom Industries, Inc. (NYSE:DY) have been given a consensus rating of “Buy” by the eight analysts that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $205.38.

Several equities analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Raymond James boosted their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Tuesday, February 4th. KeyCorp reduced their price target on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a report on Thursday. Finally, DA Davidson reiterated a “buy” rating and set a $210.00 price objective on shares of Dycom Industries in a report on Tuesday, November 19th.

Dycom Industries Stock Up 1.1 %

Shares of NYSE:DY opened at $163.89 on Monday. The business’s 50-day moving average is $181.69 and its 200-day moving average is $184.07. Dycom Industries has a 1 year low of $123.90 and a 1 year high of $207.20. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 1.29 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93.

Dycom Industries declared that its board has authorized a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Dycom Industries

In other news, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction dated 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 $1,536,005.03. This represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction dated 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 directly owns 14,533 shares in the company, valued at $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dycom Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in DY. Creative Planning grew its stake in Dycom Industries by 19.2% in the 3rd quarter. Creative Planning now owns 6,560 shares of the construction company’s stock valued at $1,293,000 after purchasing an additional 1,055 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Dycom Industries in the 3rd quarter worth about $19,424,000. First Trust Direct Indexing L.P. bought a new position in Dycom Industries during the third quarter valued at about $214,000. Pinnacle Associates Ltd. increased its holdings in Dycom Industries by 2.5% during the third quarter. Pinnacle Associates Ltd. now owns 65,464 shares of the construction company’s stock worth $12,903,000 after buying an additional 1,617 shares during the last quarter. Finally, Mariner Investment Group LLC bought a new stake in Dycom Industries in the third quarter worth about $507,000. Hedge funds and other 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.