Dycom Industries, Inc. (NYSE:DY) Receives Average Recommendation of "Buy" from Brokerages

Dycom Industries, Inc. (NYSE:DY - Get Free Report) has been given an average rating of "Buy" by the eight ratings firms that are covering the company, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $206.13.

Several equities research analysts have commented on the stock. Bank of America upped their target price on shares of Dycom Industries from $198.00 to $204.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. DA Davidson restated a "buy" rating and set a $210.00 price objective on shares of Dycom Industries in a report on Tuesday, November 19th. B. Riley upped their price objective on Dycom Industries from $205.00 to $208.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. KeyCorp lifted their price objective on Dycom Industries from $200.00 to $227.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company raised their target price on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, November 15th.

Institutional Trading of Dycom Industries

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings in Dycom Industries by 6.3% during the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company's stock valued at $275,324,000 after purchasing an additional 96,846 shares during the period. State Street Corp lifted its holdings 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 worth $228,357,000 after buying an additional 44,321 shares in the last quarter. FMR LLC boosted its position in shares of Dycom Industries by 2.4% in the third quarter. FMR LLC now owns 772,666 shares of the construction company's stock valued at $152,292,000 after acquiring an additional 17,862 shares during the period. Hill City Capital LP increased its holdings in Dycom Industries by 2.3% during the 3rd quarter. Hill City Capital LP now owns 679,784 shares of the construction company's stock worth $133,985,000 after acquiring an additional 15,000 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Dycom Industries by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company's stock worth $131,278,000 after purchasing an additional 27,370 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Trading Up 1.1 %

Shares of NYSE DY traded up $1.94 during mid-day trading on Wednesday, hitting $182.78. The company's stock had a trading volume of 210,260 shares, compared to its average volume of 306,683. The company's fifty day simple moving average is $187.37 and its 200-day simple moving average is $181.95. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 1.56 and a beta of 1.41. Dycom Industries has a one year low of $107.53 and a one year 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.

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.