Dycom Industries, Inc. (NYSE:DY) Given Consensus Rating of "Buy" by Brokerages

Shares of Dycom Industries, Inc. (NYSE:DY - Get Free Report) have earned a consensus recommendation of "Buy" from the eight brokerages that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $206.38.

DY has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. DA Davidson reissued a "buy" rating and issued a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. Finally, KeyCorp lifted their price objective on shares of Dycom Industries from $227.00 to $229.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 8th.

Insider Activity

In other news, Director Jennifer M. Fritzsche sold 430 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value of $74,437.30. Following the sale, the director now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the transaction, the director now owns 14,533 shares of the company's stock, valued at approximately $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. bought a new stake in shares of Dycom Industries during the fourth quarter worth $50,234,000. International Assets Investment Management LLC acquired a new position in Dycom Industries during the third quarter worth $19,424,000. Eagle Asset Management Inc. bought a new stake in Dycom Industries during the 3rd quarter worth about $13,144,000. ARS Investment Partners LLC bought a new position in shares of Dycom Industries in the 4th quarter valued at about $11,935,000. Finally, Point72 Asset Management L.P. acquired a new position in Dycom Industries during the third quarter worth $12,223,000. Institutional investors and hedge funds own 98.33% of the company's stock.

Dycom Industries Price Performance

Shares of NYSE:DY traded up $5.53 during trading on Thursday, reaching $188.02. The company had a trading volume of 106,381 shares, compared to its average volume of 376,012. The firm's fifty day moving average is $181.56 and its 200 day moving average is $183.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The firm has a market capitalization of $5.49 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43. Dycom Industries has a twelve month low of $111.19 and a twelve month high of $207.20.

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.