Dycom Industries (NYSE:DY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Dycom Industries (NYSE:DY) from a hold rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

A number of other equities analysts have also issued reports on the company. Wells Fargo & Company set a $476.00 target price on Dycom Industries in a research report on Thursday, August 27th. KeyCorp raised their price target on shares of Dycom Industries from $423.00 to $429.00 and gave the stock an “overweight” rating in a research report on Monday, September 21st. UBS Group restated a “buy” rating on shares of Dycom Industries in a research note on Thursday, September 17th. Weiss Ratings lowered shares of Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, August 27th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $502.92.

Dycom Industries Stock Down 0.9%

Shares of Dycom Industries stock opened at $266.84 on Friday. Dycom Industries has a 1-year low of $263.36 and a 1-year high of $566.47. The company has a market capitalization of $8.05 billion, a PE ratio of 24.28, a P/E/G ratio of 0.46 and a beta of 1.50. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.35 and a quick ratio of 2.24. The business has a 50-day moving average of $323.61 and a 200-day moving average of $390.49.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, topping the consensus estimate of $4.72 by $0.57. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations 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 was up 45.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.33 earnings per share. 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 EPS for the current fiscal year.

Dycom Industries declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 26th that permits the company to buy back $150.00 million in shares. This buyback authorization permits the construction company to repurchase up to 1.4% of its shares through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Dycom Industries news, Director David Fallon bought 700 shares of the stock in a transaction on Tuesday, September 1st. The stock was purchased at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the completion of the purchase, the director directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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, for a total transaction of $98,217.00. Following the completion of the acquisition, the director directly owned 7,154 shares of the company’s stock, valued at $2,007,555.48. This trade represents a 5.14% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DY. Allworth Financial LP bought a new stake in Dycom Industries in the second quarter worth about $35,000. Harbor Investment Advisory LLC purchased a new stake in shares of Dycom Industries in the 2nd quarter valued at approximately $52,000. Continuum Advisory LLC purchased a new stake in shares of Dycom Industries in the second quarter valued at $59,000. Legacy Wealth Managment LLC ID raised its position in Dycom Industries by 30.4% during the first 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 during the period. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Dycom Industries in the 2nd quarter worth about $82,000. 98.33% of the stock is owned by institutional investors and hedge funds.

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.