Dycom Industries Sees Large Volume Increase on Insider Buying Activity (DY)
Dycom Industries (NYSE:DY) saw unusually-high trading volume on Wednesday following insider buying activity, Analyst RN reports. Approximately 384,381 shares traded hands during mid-day trading, an increase of 111% from the previous session’s volume of 182,214 shares.The stock last traded at $30.21 and had previously closed at $30.37.
Specifically, Director Charles B. Coe bought 15,000 shares of the stock on the open market in a transaction that occurred on Tuesday, July 8th. The shares were purchased at an average price of $31.05 per share, with a total value of $465,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
DY has been the subject of a number of recent research reports. Analysts at Zacks reiterated an “underperform” rating on shares of Dycom Industries in a research note on Friday, May 30th. They now have a $27.00 price target on the stock. Analysts at Stifel Nicolaus raised their price target on shares of Dycom Industries from $33.00 to $35.00 in a research note on Thursday, May 22nd. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Dycom Industries presently has a consensus rating of “Buy” and a consensus target price of $32.36.
The stock has a 50-day moving average of $30.6 and a 200-day moving average of $29.87. The company has a market cap of $1.026 billion and a price-to-earnings ratio of 27.48.
Dycom Industries (NYSE:DY) last announced its earnings results on Tuesday, May 20th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $426.30 million for the quarter, compared to the consensus estimate of $429.56 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts predict that Dycom Industries will post $1.16 earnings per share for the current fiscal year.
Dycom Industries, Inc is a provider of specialty contracting services. The services, which are provided throughout the United States and in Canada, include 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 and others.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.