Insider Selling: Dycom Industries CEO Sells 3,697 Shares of Stock (DY)
Dycom Industries (NYSE:DY) CEO Steven Nielsen unloaded 3,697 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $27.78, for a total value of $102,702.66. Following the completion of the transaction, the chief executive officer now directly owns 638,348 shares of the company’s stock, valued at approximately $17,733,307. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on DY. Analysts at FBR Capital Markets raised their price target on shares of Dycom Industries (NYSE:DY) from $28.00 to $32.00 in a research note to investors on Wednesday, September 4th. They now have an “outperform” rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Dycom Industries (NYSE:DY) from $28.00 to $30.00 in a research note to investors on Friday, August 30th. They now have a “buy” rating on the stock. Finally, analysts at DA Davidson upgraded shares of Dycom Industries (NYSE:DY) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, August 28th. They now have a $30.00 price target on the stock, up previously from $26.00.
One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.98.
Dycom Industries (NYSE:DY) traded up 1.09% on Monday, hitting $27.93. The stock had a trading volume of 162,346 shares. Dycom Industries has a 52-week low of $13.08 and a 52-week high of $28.00. The stock has a 50-day moving average of $26.44 and a 200-day moving average of $22.9. The company has a market cap of $929.9 million and a P/E ratio of 26.57.
Dycom Industries (NYSE:DY) last announced its earnings results on Tuesday, August 27th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.45 by $0.01. The company had revenue of $478.63 million for the quarter, compared to the consensus estimate of $465.72 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 50.5% on a year-over-year basis. Analysts expect that Dycom Industries will post $1.48 EPS for the current fiscal year.
Dycom Industries, Inc (NYSE:DY) is a provider of specialty contracting services.
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