Dycom Industries (NYSE:DY) Stock Price Expected to Rise, KeyCorp Analyst Says

Dycom Industries (NYSE:DY) had its target price lifted by research analysts at KeyCorp from $227.00 to $229.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price target would suggest a potential upside of 28.18% from the stock’s current price.

Several other equities research analysts also recently weighed in on 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 report on Friday, November 15th. 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. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $206.38.

Dycom Industries Stock Performance

Shares of NYSE DY traded up $1.25 during trading hours on Wednesday, reaching $178.66. The stock had a trading volume of 160,818 shares, compared to its average volume of 255,372. The firm has a 50-day moving average of $181.19 and a 200-day moving average of $181.88. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 1.45 and a beta of 1.43. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. Dycom Industries has a fifty-two week low of $109.72 and a fifty-two week high of $207.20.

Insider Activity at Dycom Industries

In other news, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction 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 transaction, the director now owns 8,873 shares of the company’s stock, valued at approximately $1,536,005.03. This trade represents a 4.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Accent Capital Management LLC acquired a new position in shares of Dycom Industries in the third quarter worth about $25,000. Annapolis Financial Services LLC acquired a new stake in shares of Dycom Industries during the third quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Dycom Industries in the third quarter worth $28,000. Anchor Investment Management LLC increased its position in shares of Dycom Industries by 50.4% in the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock worth $33,000 after purchasing an additional 65 shares during the last quarter. Finally, SOA Wealth Advisors LLC. acquired a new position in Dycom Industries in the third quarter worth about $39,000. 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.