Raymond James Issues Positive Forecast for Dycom Industries (NYSE:DY) Stock Price

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

Several other analysts also recently issued reports on the company. KeyCorp lifted their price target on Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. DA Davidson reissued a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company upped 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. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $208.88.

Dycom Industries Stock Up 0.1 %

Shares of DY stock opened at $185.70 on Tuesday. Dycom Industries has a 12-month low of $112.15 and a 12-month 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 firm has a fifty day moving average of $182.05 and a 200-day moving average of $183.79. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 1.61 and a beta of 1.42.

Insider Activity at Dycom Industries

In related news, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jennifer M. Fritzsche sold 430 shares of the company’s 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 completion of the sale, the director now owns 8,873 shares in the company, valued at $1,536,005.03. This represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dycom Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Dycom Industries by 4.0% in the third quarter. State Street Corp now owns 1,158,585 shares of the construction company’s stock valued at $228,357,000 after purchasing an additional 44,321 shares during the last quarter. FMR LLC increased its position in Dycom Industries by 2.4% during the 3rd quarter. FMR LLC now owns 772,666 shares of the construction company’s stock worth $152,292,000 after buying an additional 17,862 shares during the period. Hill City Capital LP lifted its holdings in shares of Dycom Industries by 2.3% during the third quarter. Hill City Capital LP now owns 679,784 shares of the construction company’s stock worth $133,985,000 after buying an additional 15,000 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Dycom Industries by 4.3% in the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock valued at $131,278,000 after acquiring an additional 27,370 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Dycom Industries by 1.4% in the third quarter. Geode Capital Management LLC now owns 650,883 shares of the construction company’s stock valued at $128,315,000 after acquiring an additional 9,113 shares in the last quarter. 98.33% of the stock is owned by institutional investors.

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.