Dycom Industries (NYSE:DY) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Dycom Industries (NYSE:DY - Free Report) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $200.00 price objective on the construction company's stock.

A number of other equities analysts have also recently commented on DY. B. Riley cut their target price 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. Wells Fargo & Company dropped their price objective on shares of Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. 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 report on Tuesday, February 4th. Finally, KeyCorp dropped their price target on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $200.22.

Dycom Industries Stock Performance

NYSE:DY traded up $0.78 during mid-day trading on Monday, reaching $165.25. 357,974 shares of the stock were exchanged, compared to its average volume of 399,683. 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 1 year low of $131.37 and a 1 year high of $207.20. The company has a 50 day simple moving average of $155.53 and a 200-day simple moving average of $174.76. The stock has a market capitalization of $4.76 billion, a P/E ratio of 21.74, a P/E/G ratio of 1.29 and a beta of 1.36.

Dycom Industries declared that its board has initiated a stock buyback program on Wednesday, February 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

Institutional Trading of Dycom Industries

A number of institutional investors have recently modified their holdings of the business. HighTower Advisors LLC boosted its position in shares of Dycom Industries by 4.5% during the 3rd quarter. HighTower Advisors LLC now owns 1,858 shares of the construction company's stock worth $366,000 after purchasing an additional 80 shares in the last quarter. Barclays PLC lifted its stake in shares of Dycom Industries by 279.0% in the third quarter. Barclays PLC now owns 57,923 shares of the construction company's stock valued at $11,419,000 after purchasing an additional 42,641 shares during the period. Westside Investment Management Inc. purchased a new stake in Dycom Industries during the third quarter worth about $41,000. SOA Wealth Advisors LLC. acquired a new position in Dycom Industries during the third quarter worth about $39,000. Finally, Anchor Investment Management LLC increased its holdings in Dycom Industries by 37.6% in the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company's stock valued at $53,000 after buying an additional 73 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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.