Dycom Industries, Inc. (NYSE:DY - Get Free Report)'s stock price hit a new 52-week low on Monday . The stock traded as low as $131.37 and last traded at $131.37, with a volume of 10006 shares changing hands. The stock had previously closed at $138.96.
Wall Street Analyst Weigh In
DY has been the topic of several analyst reports. KeyCorp dropped their price target on shares of Dycom Industries from $229.00 to $201.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. B. Riley reduced their price target on Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Wells Fargo & Company cut 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. Finally, Raymond James raised their target price on shares of Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Dycom Industries presently has an average rating of "Buy" and an average target price of $202.50.
Read Our Latest Research Report on DY
Dycom Industries Price Performance
The firm has a market capitalization of $4.45 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.29 and a beta of 1.36. The business's fifty day moving average is $161.88 and its 200 day moving average is $176.92. 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 declared that its board has initiated a stock buyback plan on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.
Institutional Investors Weigh In On Dycom Industries
A number of institutional investors and hedge funds have recently modified their holdings of DY. Captrust Financial Advisors grew its position in Dycom Industries by 4.6% during the third quarter. Captrust Financial Advisors now owns 2,137 shares of the construction company's stock valued at $421,000 after purchasing an additional 94 shares in the last quarter. HighTower Advisors LLC boosted its stake 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 valued at $366,000 after buying an additional 80 shares during the period. Stifel Financial Corp grew its holdings in shares of Dycom Industries by 46.5% during the 3rd quarter. Stifel Financial Corp now owns 20,232 shares of the construction company's stock valued at $3,988,000 after acquiring an additional 6,418 shares in the last quarter. Barclays PLC increased 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 worth $11,419,000 after acquiring an additional 42,641 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Dycom Industries by 1.4% during the third quarter. Geode Capital Management LLC now owns 650,883 shares of the construction company's stock worth $128,315,000 after acquiring an additional 9,113 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.
Dycom Industries Company Profile
(
Get Free Report)
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.
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