Brokerages Set Dycom Industries, Inc. (NYSE:DY) Price Target at $202.50

Shares of Dycom Industries, Inc. (NYSE:DY - Get Free Report) have been assigned a consensus rating of "Buy" from the eight analysts that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $200.25.

Several brokerages have weighed in on DY. Wells Fargo & Company dropped their price target on shares of Dycom Industries from $215.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. KeyCorp cut their target price on Dycom Industries from $201.00 to $183.00 and set an "overweight" rating on the stock in a research note on Wednesday. Raymond James upped their price target on Dycom Industries from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research report on Tuesday, February 4th. Finally, B. Riley cut their price objective on Dycom Industries from $234.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th.

Dycom Industries Price Performance

NYSE DY traded up $2.62 on Tuesday, reaching $154.94. 440,434 shares of the company's stock traded hands, compared to its average volume of 395,496. The stock has a market cap of $4.49 billion, a PE ratio of 20.39, 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 current ratio of 3.12 and a quick ratio of 2.93. Dycom Industries has a 12 month low of $131.37 and a 12 month high of $207.20. The stock has a 50-day simple moving average of $158.31 and a 200 day simple moving average of $175.91.

Dycom Industries announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Trading of Dycom Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc purchased a new stake in Dycom Industries during the 1st quarter valued at approximately $28,000. SOA Wealth Advisors LLC. purchased a new position in Dycom Industries during the third quarter valued at $39,000. Westside Investment Management Inc. bought a new stake in Dycom Industries in the 3rd quarter valued at $41,000. Anchor Investment Management LLC increased its holdings in Dycom Industries by 37.6% in the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company's stock valued at $53,000 after acquiring an additional 73 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Dycom Industries by 26.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after purchasing an additional 71 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

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.