Dycom Industries’ (DY) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Dycom Industries (NYSE:DY) in a research note published on Friday morning,Benzinga reports. The firm currently has a $476.00 target price on the construction company’s stock.

A number of other research firms have also recently issued reports on DY. Weiss Ratings cut shares of Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. Wells Fargo & Company set a $476.00 price objective on shares of Dycom Industries in a research note on Thursday, August 27th. Guggenheim reissued a “buy” rating and set a $620.00 price objective on shares of Dycom Industries in a report on Thursday, September 17th. KeyCorp upped their target price on Dycom Industries from $423.00 to $429.00 and gave the company an “overweight” rating in a research report on Monday, September 21st. Finally, JPMorgan Chase & Co. cut their target price on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, August 27th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently 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 $270.19 on Friday. Dycom Industries has a fifty-two week low of $263.36 and a fifty-two week high of $566.47. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 0.46 and a beta of 1.50. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35. The stock’s 50-day simple moving average is $326.60 and its 200-day simple moving average is $391.08.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, beating the consensus estimate of $4.72 by $0.57. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. Dycom Industries’s revenue was up 45.6% on a year-over-year basis. During the same period last year, the firm posted $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, equities analysts forecast that Dycom Industries will post 16.06 earnings per share for the current fiscal year.

Dycom Industries declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 1.4% of its stock through open market purchases. Share repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Dycom Industries

In related news, Director David Fallon bought 700 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were purchased at an average cost of $286.92 per share, with a total value of $200,844.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carmen M. Sabater purchased 350 shares of Dycom Industries stock in a transaction that occurred on Wednesday, September 23rd. The shares were bought at an average price of $280.62 per share, with a total value of $98,217.00. Following the completion of the transaction, the director owned 7,154 shares of the company’s stock, valued at $2,007,555.48. This represents a 5.14% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DY. BlackRock Inc. acquired a new position in shares of Dycom Industries in the 2nd quarter valued at $1,513,523,000. Hill City Capital LP acquired a new stake in Dycom Industries during the second quarter valued at $510,536,693. Bank of America Corp DE acquired a new stake in Dycom Industries during the second quarter valued at $270,174,000. Bank of New York Mellon Corp purchased a new position in Dycom Industries in the second quarter valued at $90,216,000. Finally, First Trust Advisors LP increased its holdings in Dycom Industries by 27.8% in the first quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock valued at $270,615,000 after buying an additional 173,528 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

About Dycom Industries

Dycom Industries, Inc is a provider of specialty contracting services for the telecommunications and utility industries. Through its operating subsidiaries, the company designs, builds, installs, maintains and repairs infrastructure used by telecommunications providers, utilities and government agencies.

Its services include engineering and project management, aerial and underground construction, fiber-optic and broadband network deployment, wireless infrastructure installation, network maintenance, fulfillment services and emergency restoration.