KeyCorp Lowers Dycom Industries (NYSE:DY) Price Target to $201.00

Dycom Industries (NYSE:DY) had its price target reduced by equities research analysts at KeyCorp from $229.00 to $201.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. KeyCorp’s target price indicates a potential upside of 22.64% from the company’s current price.

Several other equities analysts have also issued reports on DY. Wells Fargo & Company raised their price objective on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report 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 note on Tuesday, February 4th. Finally, DA Davidson reiterated a “buy” rating and issued a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $205.38.

Dycom Industries Trading Up 1.1 %

NYSE DY opened at $163.89 on Thursday. The firm’s fifty day moving average price is $181.69 and its 200 day moving average price is $184.07. Dycom Industries has a 12 month low of $123.90 and a 12 month high of $207.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42.

Dycom Industries declared that its board has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Dycom Industries

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $175.08, for a total value of $507,732.00. Following the transaction, the director now directly owns 14,533 shares of the company’s stock, valued at approximately $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. Company insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Corient Private Wealth LLC boosted its position in shares of Dycom Industries by 0.8% during the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company’s stock worth $1,221,000 after purchasing an additional 55 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Dycom Industries by 11.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 561 shares of the construction company’s stock worth $98,000 after buying an additional 56 shares in the last quarter. First Horizon Advisors Inc. grew its position in Dycom Industries by 25.4% during the third quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock worth $57,000 after buying an additional 59 shares during the period. Arizona State Retirement System increased its holdings in Dycom Industries by 0.8% in the fourth quarter. Arizona State Retirement System now owns 8,447 shares of the construction company’s stock valued at $1,470,000 after buying an additional 70 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock valued at $59,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds 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.