Dycom Industries (NYSE:DY) Stock Price Expected to Rise, KeyCorp Analyst Says

Dycom Industries (NYSE:DY) had its price objective lifted by KeyCorp from $423.00 to $429.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. KeyCorp’s price target points to a potential upside of 51.87% from the stock’s current price.

A number of other brokerages have also weighed in on DY. Zacks Research lowered shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Raymond James Financial set a $375.00 price objective on shares of Dycom Industries in a report on Thursday, September 3rd. Cantor Fitzgerald cut their price objective on Dycom Industries from $654.00 to $476.00 and set an “overweight” rating on the stock in a research report on Thursday, August 27th. Guggenheim reiterated a “buy” rating and set a $620.00 target price on shares of Dycom Industries in a report on Thursday, September 17th. Finally, Wall Street Zen downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Saturday. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Dycom Industries currently has an average rating of “Moderate Buy” and a consensus price target of $502.92.

Dycom Industries Price Performance

Shares of DY stock opened at $282.47 on Monday. The firm has a market cap of $8.52 billion, a P/E ratio of 25.70, a P/E/G ratio of 0.50 and a beta of 1.49. Dycom Industries has a fifty-two week low of $266.84 and a fifty-two week high of $566.47. The business’s 50 day moving average price is $363.19 and its 200-day moving average price is $398.57. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $0.57. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the firm earned $3.33 earnings per share. The business’s revenue was up 45.6% compared to the same quarter last year. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities research analysts anticipate that Dycom Industries will post 15.82 earnings per share for the current year.

Dycom Industries announced that its board has authorized a share buyback program on Wednesday, August 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Dycom Industries news, Director David Fallon purchased 700 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was bought at an average cost of $286.92 per share, with a total value of $200,844.00. Following the transaction, the director directly owned 1,043 shares in the company, valued at approximately $299,257.56. The trade was a 204.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors and hedge funds have recently made changes to their positions in DY. Allworth Financial LP bought a new stake in Dycom Industries during the 2nd quarter worth approximately $35,000. Harbor Investment Advisory LLC bought a new position in shares of Dycom Industries in the second quarter worth approximately $52,000. Continuum Advisory LLC bought a new position in shares of Dycom Industries in the second quarter worth approximately $59,000. Nemes Rush Group LLC purchased a new stake in shares of Dycom Industries in the fourth quarter worth $40,000. Finally, Clearstead Advisors LLC increased its stake in shares of Dycom Industries by 212.8% in the fourth quarter. Clearstead Advisors LLC now owns 122 shares of the construction company’s stock worth $41,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 98.33% of the company’s stock.

About Dycom Industries

Dycom Industries, Inc is a specialty contractor that provides infrastructure construction and maintenance services for the telecommunications and utility industries. The company supports the expansion, upgrade and upkeep of communications networks, including fiber-optic, broadband, wireless and other voice and data systems.

Its services include engineering and design, aerial and underground construction, fiber and cable installation, wireless infrastructure deployment, network maintenance, utility locating, vegetation management and emergency restoration.