Dycom Industries (NYSE:DY) Price Target Lowered to $201.00 at KeyCorp

Dycom Industries (NYSE:DY) had its target price cut by equities research analysts at KeyCorp from $229.00 to $201.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. KeyCorp’s price target would indicate a potential upside of 20.58% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Raymond James upped their price target on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their price target on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, DA Davidson restated a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. One equities research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $205.38.

Dycom Industries Stock Performance

NYSE DY traded up $4.74 on Thursday, hitting $166.70. The stock had a trading volume of 252,071 shares, compared to its average volume of 443,018. The company’s 50-day moving average is $181.83 and its two-hundred day moving average is $184.22. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.29 and a beta of 1.42. 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 $118.00 and a one year high of $207.20.

Dycom Industries announced that its board has approved a stock buyback program on Wednesday, February 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to purchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Dycom Industries

In other news, Director Jennifer M. Fritzsche sold 430 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the sale, the director now owns 8,873 shares in the company, valued at approximately $1,536,005.03. This represents a 4.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $175.08, for a total value of $507,732.00. Following the completion of the transaction, the director now directly owns 14,533 shares in the company, valued at $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 company insiders.

Institutional Trading of Dycom Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Accent Capital Management LLC bought a new position in Dycom Industries in the 3rd quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Dycom Industries during the 3rd quarter worth about $28,000. SOA Wealth Advisors LLC. bought a new stake in Dycom Industries during the 3rd quarter valued at approximately $39,000. Westside Investment Management Inc. acquired a new stake in Dycom Industries in the 3rd quarter valued at approximately $41,000. Finally, Anchor Investment Management LLC increased its position in Dycom Industries by 37.6% in the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

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.