Dycom Industries (NYSE:DY) Reaches New 12-Month Low – Should You Sell?

Dycom Industries, Inc. (NYSE:DY) shares hit a new 52-week low during trading on Monday . The stock traded as low as $131.37 and last traded at $131.37, with a volume of 10006 shares trading hands. The stock had previously closed at $138.96.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DY shares. KeyCorp lowered their price target on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Raymond James raised their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company decreased their price target on shares of Dycom Industries from $215.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, B. Riley cut their price objective on shares of Dycom Industries from $234.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Dycom Industries presently has an average rating of “Buy” and a consensus price target of $202.50.

Dycom Industries Price Performance

The firm has a market capitalization of $4.05 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.29 and a beta of 1.36. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average price of $166.92 and a 200-day moving average price of $179.01.

Dycom Industries declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction 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 completion of the sale, the director now directly owns 14,533 shares in the company, valued at approximately $2,544,437.64. This trade represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DY. Legacy Investment Solutions LLC purchased a new position in shares of Dycom Industries during the third quarter worth approximately $28,000. Versant Capital Management Inc purchased a new position in shares of Dycom Industries during the first quarter valued at $28,000. SOA Wealth Advisors LLC. purchased a new stake in Dycom Industries in the third quarter worth about $39,000. Westside Investment Management Inc. purchased a new position in Dycom Industries during the 3rd quarter valued at about $41,000. Finally, Anchor Investment Management LLC raised its holdings in shares of Dycom Industries by 37.6% in the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after purchasing an additional 73 shares in the last quarter. Hedge funds and other institutional investors 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.