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Dycom Industries, Inc. (NYSE:DY – Get Free Report) has earned an average recommendation of “Buy” from the eight research firms that are covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $208.88.
Several analysts have recently weighed in on the company. KeyCorp lifted their target price on Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their target price 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 raised their price target on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 4th. Finally, DA Davidson reissued a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th.
Read Our Latest Analysis on Dycom Industries
Insider Buying and Selling
In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was 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 $2,544,437.64. This trade represents a 16.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction that occurred 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 owns 8,873 shares in the company, valued at $1,536,005.03. This represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is owned by corporate insiders.
Institutional Trading of Dycom Industries
Several hedge funds have recently modified their holdings of the business. Accent Capital Management LLC acquired a new position in Dycom Industries during the third quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in Dycom Industries in the third quarter valued at $28,000. SOA Wealth Advisors LLC. acquired a new position in Dycom Industries in the third quarter valued at $39,000. Westside Investment Management Inc. acquired a new position in shares of Dycom Industries during the third quarter worth about $41,000. Finally, Anchor Investment Management LLC lifted its stake in shares of Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.
Dycom Industries Trading Down 6.0 %
Shares of NYSE:DY opened at $161.63 on Monday. The stock has a 50 day moving average of $181.83 and a 200 day moving average of $184.22. The company has a market cap of $4.72 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. Dycom Industries has a 12-month low of $118.00 and a 12-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.
Dycom Industries (NYSE:DY – Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The construction company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. Dycom Industries had a net margin of 4.91% and a return on equity of 20.99%. As a group, equities research analysts expect that Dycom Industries will post 7.13 EPS for the current year.
Dycom Industries declared that its board has initiated a stock buyback program on Wednesday, February 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
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.
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