JPMorgan Chase & Co. Cuts Dycom Industries (NYSE:DY) Price Target to $570.00

Dycom Industries (NYSE:DY) had its target price reduced by JPMorgan Chase & Co. from $650.00 to $570.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 84.48% from the stock’s current price.

Other research analysts have also issued reports about the stock. Weiss Ratings raised shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Cantor Fitzgerald lowered their target price on shares of Dycom Industries from $654.00 to $476.00 and set an “overweight” rating for the company in a report on Thursday. B. Riley Financial lifted their price target on shares of Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Wells Fargo & Company set a $476.00 price objective on shares of Dycom Industries in a research report on Thursday. Finally, Guggenheim boosted their target price on Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $514.00.

Dycom Industries Trading Down 0.6%

NYSE DY traded down $1.93 during trading hours on Thursday, hitting $308.98. 527,462 shares of the company were exchanged, compared to its average volume of 488,816. The stock has a 50-day moving average price of $424.20 and a 200 day moving average price of $415.22. The company has a quick ratio of 2.46, a current ratio of 2.58 and a debt-to-equity ratio of 1.48. Dycom Industries has a 52 week low of $242.55 and a 52 week high of $566.47. The stock has a market cap of $9.28 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 0.62 and a beta of 1.54.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $0.57. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.98 billion. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The company’s revenue for the quarter was up 45.6% on a year-over-year basis. During the same period last year, the company earned $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Analysts forecast that Dycom Industries will post 15.45 earnings per share for the current fiscal year.

Dycom Industries declared that its board has approved a stock buyback program on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Dycom Industries

A number of hedge funds have recently added to or reduced their stakes in DY. Kemnay Advisory Services Inc. purchased a new stake in shares of Dycom Industries in the fourth quarter valued at approximately $30,000. Allworth Financial LP bought a new stake in Dycom Industries during the 2nd quarter valued at $35,000. Acumen Wealth Advisors LLC bought a new stake in Dycom Industries during the 4th quarter valued at $35,000. Legacy Wealth Managment LLC ID purchased a new stake in shares of Dycom Industries in the 4th quarter worth $39,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Dycom Industries by 73.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock worth $39,000 after buying an additional 68 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Key Stories Impacting Dycom Industries

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Dycom reported record fiscal 2027 second-quarter results: adjusted EPS of $5.29 exceeded the $4.72 consensus, revenue rose 45.6% year over year to $2.006 billion, and adjusted EBITDA reached $315.5 million. Dycom fiscal 2027 second-quarter results
• Positive Sentiment: Total backlog climbed 53.2% to a record $12.242 billion, improving revenue visibility. Management cited strong fiber, data-center and Building Systems demand, with digital infrastructure and AI-related investment supporting the outlook. Dycom earnings call and fiber demand
• Positive Sentiment: Dycom raised its fiscal 2027 revenue outlook to approximately $7.48 billion-$7.66 billion and authorized a $150 million share-repurchase program, equivalent to as much as 1.4% of shares outstanding. Dycom share repurchase authorization

Dycom Industries Company Profile

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.