Brokerages Set Dycom Industries, Inc. (NYSE:DY) PT at $204.38

Shares of Dycom Industries, Inc. (NYSE:DY - Get Free Report) have earned a consensus rating of "Buy" from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $204.38.

A number of equities analysts have recently commented on DY shares. B. Riley decreased their price target on shares of Dycom Industries from $234.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. KeyCorp dropped their price target on shares of Dycom Industries from $229.00 to $201.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Finally, Raymond James raised their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, February 4th.

Insiders Place Their Bets

In other news, 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 transaction of $507,732.00. Following the sale, the director now directly owns 14,533 shares of the company's stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.28% of the stock is owned by insiders.

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Institutional Investors Weigh In On Dycom Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new stake in Dycom Industries during the third quarter worth $28,000. SOA Wealth Advisors LLC. acquired a new stake in Dycom Industries in the third quarter valued at approximately $39,000. Westside Investment Management Inc. purchased a new stake in shares of Dycom Industries during the 3rd quarter worth $41,000. Anchor Investment Management LLC increased its holdings in shares of Dycom Industries by 37.6% in the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company's stock valued at $53,000 after acquiring an additional 73 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings 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 purchasing an additional 59 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company's stock.

Dycom Industries Price Performance

Shares of NYSE:DY remained flat at $161.57 during midday trading on Friday. The company had a trading volume of 372,123 shares, compared to its average volume of 357,151. The business's 50 day moving average price is $173.59 and its two-hundred day moving average price is $180.88. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. Dycom Industries has a 12 month low of $133.00 and a 12 month high of $207.20. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34.

Dycom Industries announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

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.