Dycom Industries (NYSE:DY) Sees Large Volume Increase – Should You Buy?

Shares of Dycom Industries, Inc. (NYSE:DY) saw an uptick in trading volume on Tuesday . 712,489 shares were traded during mid-day trading, an increase of 123% from the previous session’s volume of 319,680 shares.The stock last traded at $175.50 and had previously closed at $174.63.

Analyst Ratings Changes

Several analysts have issued reports on DY shares. Wells Fargo & Company increased their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. KeyCorp raised their price objective on Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, DA Davidson reiterated a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $206.13.

Dycom Industries Price Performance

The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The firm has a market cap of $5.12 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 1.45 and a beta of 1.41. The stock has a 50 day moving average price of $184.64 and a two-hundred day moving average price of $181.67.

Insiders Place Their Bets

In other news, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value of $74,437.30. Following the completion of the transaction, the director now directly owns 8,873 shares in the company, valued at $1,536,005.03. This trade represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Dycom Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of Dycom Industries by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 230,216 shares of the construction company’s stock valued at $38,851,000 after buying an additional 971 shares during the last quarter. Signaturefd LLC lifted its holdings in Dycom Industries by 196.7% in the second quarter. Signaturefd LLC now owns 359 shares of the construction company’s stock valued at $61,000 after acquiring an additional 238 shares during the period. Sage Rhino Capital LLC purchased a new stake in Dycom Industries in the 2nd quarter worth approximately $210,000. Spire Wealth Management acquired a new stake in shares of Dycom Industries during the 2nd quarter worth approximately $734,000. Finally, Montag A & Associates Inc. purchased a new position in shares of Dycom Industries during the 2nd quarter valued at approximately $3,580,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

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.