Dycom Industries, Inc. (NYSE:DY) Receives $202.50 Consensus PT from Brokerages

Dycom Industries, Inc. (NYSE:DY) has earned a consensus rating of “Buy” from the eight analysts that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $200.25.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc bought a new stake in Dycom Industries in the first quarter valued at $28,000. SOA Wealth Advisors LLC. purchased a new position in shares of Dycom Industries during the third quarter valued at about $39,000. Westside Investment Management Inc. bought a new position in Dycom Industries in the third quarter worth about $41,000. Anchor Investment Management LLC lifted its holdings in Dycom Industries by 37.6% in the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company’s stock valued at $59,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Up 1.7 %

Shares of Dycom Industries stock opened at $154.94 on Tuesday. The stock’s 50-day moving average is $159.22 and its 200 day moving average is $176.20. Dycom Industries has a one year low of $131.37 and a one year high of $207.20. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 20.39, a PEG 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 declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.