Dycom Industries (NYSE:DY) Price Target Raised to $229.00

Dycom Industries (NYSE:DY - Free Report) had its price objective upped by KeyCorp from $227.00 to $229.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the construction company's stock.

Several other brokerages have also recently commented on DY. DA Davidson reissued a "buy" rating and set a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. Wells Fargo & Company increased their price target on Dycom Industries from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $206.38.

Dycom Industries Stock Up 0.8 %

DY traded up $1.41 during trading on Wednesday, hitting $178.82. The company had a trading volume of 363,611 shares, compared to its average volume of 281,901. The firm's 50-day moving average price is $181.19 and its 200 day moving average price is $181.88. The company has a market capitalization of $5.22 billion, a PE ratio of 23.53, a PEG ratio of 1.45 and a beta of 1.43. 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 one year low of $109.72 and a one year high of $207.20.

Insider Activity

In other news, Director Jennifer M. Fritzsche sold 430 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction of $74,437.30. Following the transaction, the director now owns 8,873 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 4.28% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Dycom Industries by 2,543.6% during the 2nd quarter. Renaissance Technologies LLC now owns 103,100 shares of the construction company's stock worth $17,399,000 after acquiring an additional 99,200 shares during the period. International Assets Investment Management LLC bought a new position in shares of Dycom Industries in the third quarter worth $19,424,000. Millennium Management LLC increased its position in shares of Dycom Industries by 6.3% in the second quarter. Millennium Management LLC now owns 1,631,453 shares of the construction company's stock worth $275,324,000 after purchasing an additional 96,846 shares during the period. Eagle Asset Management Inc. bought a new stake in Dycom Industries during the third quarter worth about $13,144,000. Finally, Point72 Asset Management L.P. bought a new stake in Dycom Industries during the third quarter worth about $12,223,000. Institutional investors own 98.33% of the company's stock.

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.