Dycom Industries (NYSE:DY) Stock Upgrade
In a recent report issued to clients on Tuesday, 15 December, D. A. Davidson raised Dycom Industries (NYSE:DY) shares to respectable Buy rating from a Neutral. They now have a $95.00 Estimated Target Price on shares. and their Estimated Target Price would indicate a possible upside of 19.77% over the current stock price.
From a total of 4 analysts covering Dycom (NYSE:DY) stock, 4 rate it a ”Buy”, 1 a “Sell”, and 2 a ”Hold”. This means that 57% of the ratings are positive. The highest target price is $105 while the lowest target price is $95. The mean of all analyst targets is $100 with a 23.96% above today’s ($80.67) stock price. Dycom was the topic of 3 analyst reports since August 27, 2015 according to the firm StockzIntelligence Inc. FBR Capital maintained shares on November 25 with “Outperform” rating.
Approximately 455,891 shares of stock traded hands. Dycom Industries, Inc. (NYSE:DY) has risen 69.70% since May 12, 2015 and is uptrending. It has outperformed by 73.38% the S&P500.
The overall sentiment of institutions has decreased to 1.15 in Q2 2015. Its down 0.07, from 1.22 in 2015Q2. The ratio dropped, as 14 institutions have sold all the shares of Dycom Industries, Inc. that they owned while 90 funds have taken shares off the table. 49 funds have purchased shares for the first time while 71 added to their positions. These institutions now hold 38.80 million shares or 33.18% more than the 29.14 million shares they owned in 2015Q2.
The Fund Peconic Partners Llc currently is holding shares equating to 22.84% of its total portfolio in Dycom Industries, Inc. representing a total of 1.93 million shares. Another fund,Sab Capital Management Lp, is holding a total of 987,417 shares equating to 10.35% of their holdings. Additionally, 12Th Street Asset Management Company Llc has a 333,240 share stake in Dycom Industries, Inc. which represents 8.84% of their total portfolio. The Fund, Ack Asset Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 7.88% of their total portfolio. Finally York Capital Management Global Advisors Llc, a fund which is based in the state of New York reported a total holdings of 2.59 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 6, 2015, shareholders of Dycom Industries, Inc. have witnessed 0 buys, and a total of 1 insider sale equating to a net activity of approximately $477,552 . Vilsoet Richard B sold 7,961 shares worth approximately $477,552. Baxter Thomas G sold 1,667 shares worth approximately $99,603. Nielsen Steven E sold 56,043 shares worth approximately $3.24M. Estes Timothy R sold 38,618 shares worth approximately $1.82 million. The company insider Coley Stephen C sold 2,000 shares worth $91,939.
Dycom Industries, Inc. is a provider of specialty contracting services throughout the United States and in Canada. The company has a market cap of $2.58 billion. The Company, through its subsidiaries, provides engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities. It has 29.56 P/E ratio. It offers engineering services, which include the design of aerial, underground and buried fiber optic, copper and coaxial cable systems that extend from the telephone firm central office or cable operator headend to the consumer’s home or business.
According to Zacks Investment Research, “Dycom Industries, Inc. is a leading provider of specialty contracting services throughout the United States. These services include engineering, construction, maintenance and installation services to telecommunications providers, underground locating services to various utilities including telecommunications providers, and other construction and maintenance services to electric utilities and others.”