Dycom Industries (NYSE:DY) Given New $215.00 Price Target at Raymond James

Dycom Industries (NYSE:DY) had its price target hoisted by investment analysts at Raymond James from $210.00 to $215.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the construction company’s stock. Raymond James’ price target would indicate a potential upside of 16.35% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. KeyCorp lifted their price objective on Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. DA Davidson reiterated a “buy” rating and issued a $210.00 price objective on shares of Dycom Industries in a report on Tuesday, November 19th. Finally, 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 report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Dycom Industries presently has an average rating of “Buy” and an average price target of $208.88.

Dycom Industries Price Performance

DY stock traded down $0.63 during mid-day trading on Tuesday, hitting $184.79. 36,666 shares of the stock were exchanged, compared to its average volume of 376,754. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 1.61 and a beta of 1.42. The business has a fifty day moving average price of $181.94 and a 200 day moving average price of $183.71. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. Dycom Industries has a 12 month low of $112.15 and a 12 month high of $207.20.

Insiders Place Their Bets

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the transaction, the director now owns 14,533 shares in the company, valued at approximately $2,544,437.64. This represents a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jennifer M. Fritzsche sold 430 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value 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 represents a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.28% of the company’s stock.

Institutional Trading of Dycom Industries

Hedge funds have recently bought and sold shares of the company. Hennessy Advisors Inc. purchased a new stake in Dycom Industries in the fourth quarter worth about $50,234,000. International Assets Investment Management LLC purchased a new stake in Dycom Industries in the third quarter worth about $19,424,000. Eagle Asset Management Inc. purchased a new stake in Dycom Industries in the third quarter worth about $13,144,000. ARS Investment Partners LLC purchased a new stake in Dycom Industries in the fourth quarter worth about $11,935,000. Finally, Point72 Asset Management L.P. purchased a new stake in Dycom Industries in the third quarter worth about $12,223,000. Hedge funds and other 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.