Dycom Industries (NYSE:DY) Hits New 1-Year Low – Here’s What Happened

Dycom Industries, Inc. (NYSE:DY)’s stock price hit a new 52-week low on Tuesday. The stock traded as low as $262.17 and last traded at $265.8850, with a volume of 26,881 shares changing hands. The stock had previously closed at $266.99.

Analysts Set New Price Targets

Several analysts recently commented on DY shares. Wells Fargo & Company set a $476.00 price objective on shares of Dycom Industries in a research report on Thursday, August 27th. Wall Street Zen raised shares of Dycom Industries from a “hold” rating to a “buy” rating in a report on Saturday. Guggenheim reiterated a “buy” rating and issued a $620.00 target price on shares of Dycom Industries in a research note on Thursday, September 17th. JPMorgan Chase & Co. lowered their price objective 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. Finally, KeyCorp upped their target price on shares of Dycom Industries from $423.00 to $429.00 and gave the company an “overweight” rating in a research note on Monday, September 21st. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $502.92.

Dycom Industries Stock Performance

The business’s 50 day simple moving average is $323.61 and its two-hundred day simple moving average is $390.49. The firm has a market capitalization of $8.08 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 0.46 and a beta of 1.50. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35.

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

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

Insider Transactions at Dycom Industries

In other news, Director Carmen M. Sabater bought 350 shares of the company’s stock in a transaction on Wednesday, September 23rd. The shares were acquired at an average cost 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 approximately $2,007,555.48. This trade represents a 5.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Fallon purchased 700 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were purchased at an average price of $286.92 per share, with a total value of $200,844.00. Following the completion of the purchase, the director owned 1,043 shares in the company, valued at approximately $299,257.56. This trade represents a 204.08% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dycom Industries

Several institutional investors have recently made changes to their positions in DY. BlackRock Inc. bought a new stake in Dycom Industries during the second quarter valued at approximately $1,513,523,000. Hill City Capital LP purchased a new stake in Dycom Industries during the second quarter valued at approximately $510,536,693. First Trust Advisors LP raised its position 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 worth $270,615,000 after acquiring an additional 173,528 shares during the period. Bank of America Corp DE bought a new position in Dycom Industries in the second quarter worth approximately $270,174,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Dycom Industries by 19.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 396,240 shares of the construction company’s stock worth $134,254,000 after acquiring an additional 65,724 shares during the period. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Company Profile

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.