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

Dycom Industries (NYSE:DY) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $476.00 price target on shares of Dycom Industries in a research note on Friday, October 9th. Raymond James Financial set a $375.00 target price on Dycom Industries in a research note on Thursday, September 3rd. KeyCorp lifted their price target on Dycom Industries from $423.00 to $429.00 and gave the company an “overweight” rating in a research report on Monday, September 21st. Wells Fargo & Company set a $476.00 price objective on shares of Dycom Industries in a research note on Thursday, August 27th. Finally, UBS Group reiterated a “buy” rating on shares of Dycom Industries in a research note on Thursday, September 17th. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $502.92.

Dycom Industries Stock Performance

Shares of Dycom Industries stock opened at $227.42 on Friday. The company has a market capitalization of $6.86 billion, a PE ratio of 20.69, a PEG ratio of 0.39 and a beta of 1.53. The stock’s fifty day simple moving average is $278.94 and its 200 day simple moving average is $378.40. Dycom Industries has a 12 month low of $215.28 and a 12 month high of $566.47. 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 data on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, topping analysts’ consensus estimates of $4.72 by $0.57. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The company’s revenue for the quarter was up 45.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, research analysts predict that Dycom Industries will post 15.98 EPS for the current year.

Dycom Industries declared that its board has approved a share repurchase plan on Wednesday, August 26th that allows the company to buy back $150 million in shares. This repurchase authorization allows the construction company to purchase up to 1.4% of its shares through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Dycom Industries

In other news, Director Carmen M. Sabater purchased 350 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was bought at an average price of $280.62 per share, for a total transaction of $98,217.00. Following the completion of the purchase, the director directly owned 7,154 shares of the company’s stock, valued at $2,007,555.48. The trade was a 5.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Fallon bought 700 shares of Dycom Industries stock in a transaction dated Tuesday, September 1st. The stock was 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.22% of the company’s stock.

Hedge Funds Weigh In On Dycom Industries

Several institutional investors and hedge funds have recently modified their holdings of DY. BlackRock Inc. purchased a new position in Dycom Industries in the 2nd quarter worth approximately $1,513,523,000. Hill City Capital LP bought a new stake in shares of Dycom Industries in the 2nd quarter valued at approximately $510,536,693. First Trust Advisors LP increased its position in Dycom Industries by 27.8% in the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock worth $270,615,000 after buying an additional 173,528 shares during the period. Bank of America Corp DE acquired a new position in shares of Dycom Industries in the 2nd quarter worth approximately $270,174,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Dycom Industries by 19.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 396,240 shares of the construction company’s stock worth $134,254,000 after buying an additional 65,724 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Company Profile

Dycom Industries, Inc is a specialty contracting company that provides infrastructure services to telecommunications providers, utilities, cable and broadband companies, and government agencies. Headquartered in Palm Beach Gardens, Florida, the company operates primarily across the United States.

Its services include engineering, construction, installation, maintenance, and repair of telecommunications infrastructure. Dycom supports the deployment of fiber-optic networks, broadband systems, wireless networks, underground and aerial lines, and other communications facilities.