Dycom Industries, Inc. (NYSE:DY) Receives Average Rating of “Buy” from Brokerages

Shares of Dycom Industries, Inc. (NYSE:DY) have earned a consensus recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $206.13.

DY has been the topic of a number of research reports. DA Davidson reaffirmed a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. KeyCorp increased their price objective on Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America increased their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, B. Riley lifted their price objective on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd.

Dycom Industries Stock Performance

DY stock opened at $179.48 on Wednesday. The firm has a 50 day simple moving average of $186.75 and a 200 day simple moving average of $181.96. Dycom Industries has a 52 week low of $107.53 and a 52 week high of $207.20. The stock has a market cap of $5.24 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.45 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DY. Hsbc Holdings PLC boosted its position in shares of Dycom Industries by 193.7% in the second quarter. Hsbc Holdings PLC now owns 7,819 shares of the construction company’s stock valued at $1,317,000 after acquiring an additional 5,157 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Dycom Industries by 2,353.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 158,988 shares of the construction company’s stock valued at $26,831,000 after purchasing an additional 152,509 shares during the period. Whalen Wealth Management Inc. bought a new stake in Dycom Industries in the 3rd quarter valued at $773,000. Creative Planning grew its position in Dycom Industries by 19.2% in the 3rd quarter. Creative Planning now owns 6,560 shares of the construction company’s stock worth $1,293,000 after purchasing an additional 1,055 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Dycom Industries by 32.0% during the 2nd quarter. American Century Companies Inc. now owns 17,547 shares of the construction company’s stock worth $2,961,000 after purchasing an additional 4,255 shares during the period. 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.