Dycom Industries, Inc. (NYSE:DY) Receives Consensus Rating of “Buy” from Brokerages

Dycom Industries, Inc. (NYSE:DY) has earned a consensus recommendation of “Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $206.38.

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. KeyCorp boosted their price objective on Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Finally, DA Davidson restated a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th.

Dycom Industries Price Performance

NYSE DY opened at $182.70 on Thursday. The company has a market cap of $5.33 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43. 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 firm’s 50-day simple moving average is $181.56 and its two-hundred day simple moving average is $183.46. Dycom Industries has a 52 week low of $111.19 and a 52 week high of $207.20.

Insider Buying and Selling

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the sale, the director now owns 8,873 shares of the company’s stock, valued at $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. 4.28% of the stock is owned by company insiders.

Institutional Trading of Dycom Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legato Capital Management LLC boosted its position in Dycom Industries by 39.9% during the fourth quarter. Legato Capital Management LLC now owns 4,070 shares of the construction company’s stock valued at $708,000 after buying an additional 1,160 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Dycom Industries by 4,021.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,202 shares of the construction company’s stock valued at $1,449,000 after acquiring an additional 8,003 shares during the period. MeadowBrook Investment Advisors LLC grew its position in Dycom Industries by 8.0% during the 4th quarter. MeadowBrook Investment Advisors LLC now owns 2,020 shares of the construction company’s stock worth $352,000 after acquiring an additional 150 shares during the last quarter. Empowered Funds LLC purchased a new position in Dycom Industries in the 4th quarter worth approximately $5,955,000. Finally, Wilmington Savings Fund Society FSB lifted its position 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 purchasing an additional 56 shares during the last quarter. Hedge funds and other 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.