Dycom Industries (NYSE:DY) Given New $475.00 Price Target at Bank of America

Dycom Industries (NYSE:DY) had its price objective hoisted by equities research analysts at Bank of America from $365.00 to $475.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Bank of America‘s price objective points to a potential upside of 10.81% from the company’s previous close.

Several other research firms have also issued reports on DY. Guggenheim initiated coverage on Dycom Industries in a report on Thursday, January 22nd. They set a “buy” rating and a $510.00 target price on the stock. Wells Fargo & Company boosted their price target on Dycom Industries from $315.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. B. Riley Financial increased their price objective on Dycom Industries from $320.00 to $420.00 and gave the company a “buy” rating in a report on Friday, November 21st. JPMorgan Chase & Co. raised their target price on shares of Dycom Industries from $370.00 to $395.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Finally, Wall Street Zen raised shares of Dycom Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $406.20.

Dycom Industries Stock Performance

Shares of DY opened at $428.68 on Wednesday. The firm has a fifty day simple moving average of $373.68 and a 200 day simple moving average of $320.92. The company has a current ratio of 3.09, a quick ratio of 2.90 and a debt-to-equity ratio of 0.62. Dycom Industries has a 12 month low of $131.37 and a 12 month high of $445.52. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 1.85 and a beta of 1.36.

Insider Buying and Selling

In other Dycom Industries news, Director Eitan Gertel sold 3,645 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $345.62, for a total value of $1,259,784.90. Following the transaction, the director directly owned 15,997 shares in the company, valued at $5,528,883.14. The trade was a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.72% of the stock is currently owned by company insiders.

Institutional Trading of Dycom Industries

A number of hedge funds have recently modified their holdings of DY. Jones Financial Companies Lllp grew its stake in Dycom Industries by 4,626.1% in the 1st quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock valued at $331,000 after buying an additional 2,128 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Dycom Industries by 7.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock valued at $10,622,000 after purchasing an additional 4,985 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Dycom Industries by 358.3% during the second quarter. AlphaQuest LLC now owns 1,109 shares of the construction company’s stock worth $271,000 after purchasing an additional 867 shares during the period. Whalen Wealth Management Inc. acquired a new stake in Dycom Industries during the 2nd quarter worth approximately $247,000. Finally, Yorktown Management & Research Co Inc bought a new stake in Dycom Industries in the 2nd quarter valued at $361,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Company Profile

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.