Dycom Industries, Inc. (NYSE:DY) Receives $208.88 Average Price Target from Brokerages

Shares of Dycom Industries, Inc. (NYSE:DY) have been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $205.38.

Several analysts have weighed in on DY shares. DA Davidson reissued a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. Wells Fargo & Company boosted 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 research report on Tuesday, February 4th. Finally, KeyCorp decreased their price target on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research note on Thursday.

Dycom Industries Trading Up 1.1 %

Shares of DY opened at $163.89 on Monday. Dycom Industries has a fifty-two week low of $123.90 and a fifty-two week high of $207.20. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 1.29 and a beta of 1.42. The firm has a 50 day moving average price of $181.49 and a 200-day moving average price of $183.93. 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 announced that its board has authorized a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Dycom Industries

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction dated 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 directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total value of $74,437.30. Following the sale, the director now directly owns 8,873 shares in the company, valued at approximately $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DY. Accent Capital Management LLC bought a new stake in shares of Dycom Industries during the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new position in Dycom Industries during the third quarter valued at $28,000. SOA Wealth Advisors LLC. bought a new stake in shares of Dycom Industries during the 3rd quarter valued at $39,000. Westside Investment Management Inc. purchased a new stake in shares of Dycom Industries in the 3rd quarter worth about $41,000. Finally, Anchor Investment Management LLC grew its position 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 worth $53,000 after buying an additional 73 shares during the period. 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.