Dycom Industries (NYSE:DY) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of Dycom Industries (NYSE:DY) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

Other analysts have also issued reports about the stock. B. Riley Financial increased their target price on shares of Dycom Industries from $485.00 to $625.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings upgraded shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 6th. Cantor Fitzgerald upped their price target on Dycom Industries from $436.00 to $654.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Zacks Research upgraded Dycom Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Finally, Guggenheim increased their price objective on Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $554.92.

Dycom Industries Price Performance

Shares of Dycom Industries stock opened at $430.58 on Friday. The company has a current ratio of 2.58, a quick ratio of 2.46 and a debt-to-equity ratio of 1.48. The company’s 50-day moving average price is $452.12 and its two-hundred day moving average price is $409.13. Dycom Industries has a 52 week low of $233.00 and a 52 week high of $566.47. The stock has a market cap of $12.93 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 0.76 and a beta of 1.50.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, May 27th. The construction company reported $4.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $1.69. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the company earned $2.09 EPS. Dycom Industries’s revenue was up 56.1% on a year-over-year basis. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. As a group, sell-side analysts anticipate that Dycom Industries will post 15.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. &PARTNERS boosted its stake in Dycom Industries by 2.5% during the fourth quarter. &PARTNERS now owns 1,053 shares of the construction company’s stock worth $356,000 after buying an additional 26 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Dycom Industries by 17.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 203 shares of the construction company’s stock valued at $69,000 after buying an additional 30 shares during the period. Osaic Holdings Inc. raised its stake in shares of Dycom Industries by 1.7% in the 4th quarter. Osaic Holdings Inc. now owns 2,062 shares of the construction company’s stock valued at $697,000 after buying an additional 35 shares in the last quarter. Legacy Wealth Managment LLC ID raised its stake in shares of Dycom Industries by 30.4% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company’s stock valued at $51,000 after buying an additional 35 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Dycom Industries by 1.9% during the 4th quarter. CWM LLC now owns 1,956 shares of the construction company’s stock worth $661,000 after acquiring an additional 36 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

About Dycom Industries

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.