Dycom Industries (NYSE:DY) Sees Unusually-High Trading Volume - Should You Buy?

Dycom Industries, Inc. (NYSE:DY - Get Free Report) saw strong trading volume on Tuesday . 712,489 shares traded hands during mid-day trading, an increase of 123% from the previous session's volume of 319,680 shares.The stock last traded at $175.50 and had previously closed at $174.63.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. DA Davidson reiterated a "buy" rating and set a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. Wells Fargo & Company lifted their price objective on Dycom Industries from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Finally, KeyCorp upped their target price on Dycom Industries from $200.00 to $227.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Dycom Industries has an average rating of "Buy" and a consensus target price of $206.13.

Dycom Industries Trading Up 0.5 %

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 cap of $5.12 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 1.45 and a beta of 1.41. The stock has a 50-day simple moving average of $184.64 and a two-hundred day simple moving average of $181.67.

Insider Buying and Selling

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 transaction, the director now owns 8,873 shares of the company's stock, valued at $1,536,005.03. This trade represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Dycom Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its position in shares of 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 in the last quarter. State Street Corp raised its holdings in shares of Dycom Industries by 4.0% during the 3rd quarter. State Street Corp now owns 1,158,585 shares of the construction company's stock worth $228,357,000 after acquiring an additional 44,321 shares in the last quarter. FMR LLC boosted its position in shares of Dycom Industries by 2.4% during the 3rd 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 last quarter. Hill City Capital LP increased its position in Dycom Industries by 2.3% in the third quarter. Hill City Capital LP now owns 679,784 shares of the construction company's stock worth $133,985,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Dycom Industries by 4.3% during the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company's stock valued at $131,278,000 after purchasing an additional 27,370 shares in the last quarter. Institutional investors own 98.33% of the company's stock.

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.