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

Dycom Industries (NYSE:DY) had its price target upped by research analysts at KeyCorp from $227.00 to $229.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price objective would indicate a potential upside of 28.06% from the stock’s current price.

DY has been the topic of a number of other reports. DA Davidson reaffirmed a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. Wells Fargo & Company lifted their target price on shares of 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 assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $206.38.

Dycom Industries Stock Up 0.8 %

DY opened at $178.82 on Wednesday. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. Dycom Industries has a twelve month low of $109.72 and a twelve month high of $207.20. 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. The company has a 50-day moving average price of $181.31 and a 200 day moving average price of $181.86.

Insiders Place Their Bets

In related 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 transaction of $74,437.30. Following the completion of the sale, the director now directly owns 8,873 shares of the company’s stock, valued at approximately $1,536,005.03. This trade represents a 4.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DY. Fulton Bank N.A. lifted its position in shares of Dycom Industries by 12.0% during the fourth quarter. Fulton Bank N.A. now owns 4,687 shares of the construction company’s stock worth $816,000 after purchasing an additional 502 shares in the last quarter. Nordea Investment Management AB acquired a new stake in Dycom Industries during the 4th quarter worth approximately $1,171,000. JPMorgan Chase & Co. boosted its position in Dycom Industries by 65.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,320 shares of the construction company’s stock valued at $15,831,000 after buying an additional 31,864 shares during the period. Principal Financial Group Inc. grew its stake in shares of Dycom Industries by 4.3% in the third quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company’s stock worth $131,278,000 after acquiring an additional 27,370 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Dycom Industries by 17.7% during the third quarter. Franklin Resources Inc. now owns 154,814 shares of the construction company’s stock worth $29,237,000 after acquiring an additional 23,270 shares during the period. 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.