Dycom Industries (NYSE:DY) Given New $229.00 Price Target at KeyCorp

Dycom Industries (NYSE:DY) had its price objective lifted by research analysts at KeyCorp from $227.00 to $229.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. KeyCorp’s target price suggests a potential upside of 28.18% from the company’s current price.

Several other research firms have also recently commented on DY. DA Davidson restated a “buy” rating and issued a $210.00 target price 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 stock an “overweight” rating in a research note 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, Dycom Industries has an average rating of “Buy” and a consensus price target of $206.38.

Dycom Industries Stock Performance

Shares of DY stock traded up $1.25 during trading hours on Wednesday, reaching $178.66. The stock had a trading volume of 160,818 shares, compared to its average volume of 255,372. The firm has a market capitalization of $5.21 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 1.45 and a beta of 1.43. The firm has a 50-day simple moving average of $181.19 and a 200-day simple moving average of $181.88. Dycom Industries has a twelve month low of $109.72 and a twelve month high of $207.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93.

Insider Activity

In related news, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 directly 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 filing with the SEC, which is available at the SEC website. Insiders own 4.28% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Stifel Financial Corp increased its position in shares of Dycom Industries by 46.5% in the third quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock worth $3,988,000 after acquiring an additional 6,418 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Dycom Industries by 193.7% in the 2nd quarter. Hsbc Holdings PLC now owns 7,819 shares of the construction company’s stock worth $1,317,000 after acquiring an additional 5,157 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in Dycom Industries during the 3rd quarter worth about $773,000. Creative Planning boosted its position in Dycom Industries by 19.2% during the 3rd quarter. Creative Planning now owns 6,560 shares of the construction company’s stock worth $1,293,000 after acquiring an additional 1,055 shares during the period. Finally, American Century Companies Inc. grew its stake in Dycom Industries by 32.0% during the 2nd quarter. American Century Companies Inc. now owns 17,547 shares of the construction company’s stock valued at $2,961,000 after acquiring an additional 4,255 shares in the last quarter. Institutional investors and hedge funds 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.