Dycom Industries (NYSE:DY) Sets New 52-Week Low – Should You Sell?

Dycom Industries, Inc. (NYSE:DY) reached a new 52-week low on Wednesday. The company traded as low as $214.37 and last traded at $214.1780, with a volume of 222,977 shares traded. The stock had previously closed at $228.21.

Analyst Ratings Changes

A number of research firms recently issued reports on DY. Guggenheim reissued a “buy” rating and set a $620.00 price objective on shares of Dycom Industries in a research report on Thursday, September 17th. Zacks Research lowered Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. UBS Group reaffirmed a “buy” rating on shares of Dycom Industries in a research report on Thursday, September 17th. Wall Street Zen downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. reduced their price target on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $502.92.

Dycom Industries Stock Down 6.9%

The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. The business’s fifty day moving average price is $272.42 and its two-hundred day moving average price is $377.09. The firm has a market cap of $6.41 billion, a P/E ratio of 19.40, a P/E/G ratio of 0.38 and a beta of 1.53.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data 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 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%. Dycom Industries’s revenue for the quarter was up 45.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, equities research analysts anticipate that Dycom Industries, Inc. will post 15.98 EPS for the current year.

Dycom Industries announced that its board has initiated a stock repurchase program on Wednesday, August 26th that authorizes the company to repurchase $150 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Dycom Industries

In related news, Director Carmen Sabater acquired 350 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were acquired at an average price of $280.62 per share, with a total value of $98,217.00. Following the acquisition, the director owned 7,154 shares in the company, valued at approximately $2,007,555.48. The trade was a 5.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Fallon acquired 700 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was bought at an average cost 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 $299,257.56. This represents a 204.08% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.22% of the company’s stock.

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Dycom Industries in the second quarter valued at approximately $1,513,523,000. Hill City Capital LP acquired a new stake in shares of Dycom Industries during the second quarter worth $510,536,693. 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 purchasing an additional 173,528 shares during the last quarter. Bank of America Corp DE bought a new stake in Dycom Industries in the second quarter valued at about $270,174,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake 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 valued at $134,254,000 after buying 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 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.