KeyCorp Forecasts Strong Price Appreciation for Dycom Industries (NYSE:DY) Stock

Dycom Industries (NYSE:DY) had its target price boosted by KeyCorp from $227.00 to $229.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other equities research analysts have also issued research reports about the company. DA Davidson reaffirmed a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. Wells Fargo & Company upped their target price 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 equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Dycom Industries currently has an average rating of “Buy” and a consensus price target of $206.38.

Dycom Industries Stock Performance

Shares of DY opened at $178.82 on Wednesday. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The stock has a 50-day moving average price of $181.19 and a 200-day moving average price of $181.88. The company has a market cap of $5.22 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 1.45 and a beta of 1.43. Dycom Industries has a 12-month low of $109.72 and a 12-month high of $207.20.

Insider Transactions at Dycom Industries

In related news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction of $74,437.30. Following the sale, the director now directly owns 8,873 shares in the company, valued at $1,536,005.03. The trade was a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.28% of the company’s stock.

Institutional Trading of Dycom Industries

Several hedge funds and other institutional investors have recently made changes to their positions in DY. Stifel Financial Corp boosted its position in shares of Dycom Industries by 46.5% during the third quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock valued at $3,988,000 after buying an additional 6,418 shares during the last quarter. Hsbc Holdings PLC grew its stake 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 worth $1,317,000 after acquiring an additional 5,157 shares during the period. Whalen Wealth Management Inc. purchased a new position in shares of Dycom Industries during the third quarter valued at approximately $773,000. Creative Planning lifted its position in Dycom Industries by 19.2% during the third quarter. Creative Planning now owns 6,560 shares of the construction company’s stock valued at $1,293,000 after purchasing an additional 1,055 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Dycom Industries by 32.0% in the second 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 last quarter. Hedge funds and other 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.