Dycom Industries (NYSE:DY) Price Target Raised to $215.00

Dycom Industries (NYSE:DY) had its target price increased by Raymond James from $210.00 to $215.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a strong-buy rating on the construction company’s stock.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company increased their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. DA Davidson reiterated a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. Finally, KeyCorp increased their price target on Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $208.88.

Dycom Industries Stock Up 4.7 %

Shares of DY opened at $200.21 on Tuesday. Dycom Industries has a 52 week low of $112.17 and a 52 week high of $207.20. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 1.61 and a beta of 1.42. The stock’s 50-day moving average price is $182.65 and its 200-day moving average price is $183.95.

Insider Buying and Selling at Dycom Industries

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries 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 approximately $2,544,437.64. This trade represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries 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 approximately $1,536,005.03. The trade was a 4.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.28% of the company’s stock.

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors have recently added to or reduced their stakes in DY. Hennessy Advisors Inc. purchased a new position in Dycom Industries during the fourth quarter worth approximately $50,234,000. International Assets Investment Management LLC purchased a new position in Dycom Industries during the third quarter worth approximately $19,424,000. Reaves W H & Co. Inc. lifted its position in Dycom Industries by 232.1% during the fourth quarter. Reaves W H & Co. Inc. now owns 117,429 shares of the construction company’s stock worth $20,440,000 after buying an additional 82,071 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in Dycom Industries during the third quarter worth approximately $13,144,000. Finally, ARS Investment Partners LLC purchased a new position in Dycom Industries during the fourth quarter worth approximately $11,935,000. 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.