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

Dycom Industries, Inc. (NYSE:DY) has received a consensus rating of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $205.38.

Several analysts recently issued reports on DY shares. KeyCorp reduced their price target on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating for the company in a research note on Thursday. 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. Wells Fargo & Company lifted their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, DA Davidson restated a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th.

Dycom Industries Trading Up 1.1 %

DY stock opened at $163.89 on Monday. Dycom Industries has a one year low of $123.90 and a one year high of $207.20. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. The company has a fifty day moving average price of $181.69 and a two-hundred day moving average price of $184.07. 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 announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Jennifer M. Fritzsche sold 430 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the transaction, the director now directly owns 8,873 shares in the company, valued at approximately $1,536,005.03. This represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the 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 of the company’s stock, 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. Insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC grew its position in shares of Dycom Industries by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company’s stock valued at $1,221,000 after buying an additional 55 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Dycom Industries by 11.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock valued at $98,000 after acquiring an additional 56 shares during the last quarter. First Horizon Advisors Inc. increased its position in Dycom Industries by 25.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock valued at $57,000 after purchasing an additional 59 shares during the period. Arizona State Retirement System raised its holdings in Dycom Industries by 0.8% during the 4th quarter. Arizona State Retirement System now owns 8,447 shares of the construction company’s stock worth $1,470,000 after purchasing an additional 70 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Dycom Industries by 26.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock worth $59,000 after purchasing an additional 71 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.