Dycom Industries (NYSE:DY) Upgraded by B. Riley to Strong-Buy Rating

B. Riley upgraded shares of Dycom Industries (NYSE:DY) to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

DY has been the subject of a number of other research reports. DA Davidson reiterated a “buy” rating and set a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. KeyCorp dropped their target price on Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Raymond James boosted their price target on Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $204.38.

Dycom Industries Stock Up 0.7 %

NYSE:DY opened at $159.29 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The company’s fifty day moving average price is $174.28 and its 200-day moving average price is $180.97. Dycom Industries has a 1-year low of $133.00 and a 1-year high of $207.20. The firm has a market capitalization of $4.62 billion, a P/E ratio of 20.96, a PEG ratio of 1.29 and a beta of 1.34.

Dycom Industries declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Dycom Industries

In other 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 completion of the transaction, the director now directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 4.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors have recently added to or reduced their stakes in DY. Legacy Investment Solutions LLC purchased a new position in Dycom Industries during the third quarter valued at $28,000. SOA Wealth Advisors LLC. acquired a new position in shares of Dycom Industries during the 3rd quarter worth about $39,000. Westside Investment Management Inc. purchased a new position in Dycom Industries in the 3rd quarter valued at about $41,000. Anchor Investment Management LLC lifted its stake 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 buying an additional 73 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Dycom Industries by 25.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock worth $57,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds 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.