Dycom Industries (NYSE:DY) Sees Unusually-High Trading Volume – Should You Buy?

Dycom Industries, Inc. (NYSE:DY) saw unusually-high trading volume on Tuesday . Approximately 712,489 shares changed hands 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

A number of equities research analysts have recently weighed in on the stock. DA Davidson reaffirmed a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th. KeyCorp lifted 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, Wells Fargo & Company increased their target price on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $206.13.

Dycom Industries Price Performance

The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89. The company has a market cap of $5.12 billion, a PE ratio of 23.09, a P/E/G ratio of 1.45 and a beta of 1.41. The firm has a 50 day moving average of $184.89 and a two-hundred day moving average of $181.69.

Insider Activity

In related news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries 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 sale, the director now directly owns 8,873 shares in the company, valued at approximately $1,536,005.03. This trade represents a 4.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.28% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

A number of hedge funds have recently added to or reduced their stakes in DY. Stifel Financial Corp increased its holdings in Dycom Industries by 46.5% during the third quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock valued at $3,988,000 after buying an additional 6,418 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Dycom Industries by 193.7% in the 2nd quarter. Hsbc Holdings PLC now owns 7,819 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 5,157 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Dycom Industries in the 3rd quarter worth $773,000. Creative Planning raised its holdings in Dycom Industries by 19.2% in the 3rd quarter. Creative Planning now owns 6,560 shares of the construction company’s stock worth $1,293,000 after purchasing an additional 1,055 shares during the period. Finally, American Century Companies Inc. grew its holdings in Dycom Industries by 32.0% during the second quarter. American Century Companies Inc. now owns 17,547 shares of the construction company’s stock valued at $2,961,000 after purchasing an additional 4,255 shares during the period. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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.