Archon Capital Management LLC Takes Position in Dycom Industries, Inc. (NYSE:DY)

Archon Capital Management LLC purchased a new stake in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,497 shares of the construction company's stock, valued at approximately $3,046,000. Dycom Industries accounts for about 3.0% of Archon Capital Management LLC's holdings, making the stock its 9th largest holding. Archon Capital Management LLC owned approximately 0.06% of Dycom Industries at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DY. SOA Wealth Advisors LLC. bought a new stake in shares of Dycom Industries during the third quarter worth $39,000. Westside Investment Management Inc. bought a new stake in Dycom Industries during the 3rd quarter valued at about $41,000. Anchor Investment Management LLC increased its position in shares of Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company's stock worth $53,000 after acquiring an additional 73 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Dycom Industries by 26.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock valued at $59,000 after purchasing an additional 71 shares during the period. Finally, Federated Hermes Inc. grew its stake in Dycom Industries by 107.0% in the fourth quarter. Federated Hermes Inc. now owns 387 shares of the construction company's stock worth $67,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Stock Performance

NYSE DY traded up $3.99 on Thursday, reaching $156.31. 151,343 shares of the company's stock traded hands, compared to its average volume of 392,700. The stock has a 50 day moving average price of $159.22 and a 200-day moving average price of $176.20. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 1.29 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. Dycom Industries, Inc. has a fifty-two week low of $131.37 and a fifty-two week high of $207.20.

Dycom Industries declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Raymond James lifted their price objective on Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a report on Tuesday, February 4th. KeyCorp reduced their price objective on shares of Dycom Industries from $201.00 to $183.00 and set an "overweight" rating for the company in a research note on Wednesday. Wells Fargo & Company cut their price target on shares of Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Finally, B. Riley lowered their price objective on Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $200.25.

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.