Dycom Industries’ (DY) Buy Rating Reaffirmed at Guggenheim

Dycom Industries (NYSE:DY)‘s stock had its “buy” rating reaffirmed by equities research analysts at Guggenheim in a research report issued on Thursday, Benzinga reports. They presently have a $620.00 price objective on the construction company’s stock. Guggenheim’s price objective points to a potential upside of 115.72% from the stock’s current price.

Other analysts have also recently issued reports about the company. KeyCorp cut their price objective on Dycom Industries from $610.00 to $423.00 and set an “overweight” rating for the company in a research report on Thursday, August 27th. Wedbush set a $654.00 target price on shares of Dycom Industries in a research note on Friday, May 29th. JPMorgan Chase & Co. cut their price target on shares of Dycom Industries from $650.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. UBS Group reduced their price target on shares of Dycom Industries from $611.00 to $525.00 and set a “buy” rating on the stock in a research note on Thursday, August 27th. Finally, Zacks Research downgraded Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $502.42.

Dycom Industries Price Performance

Shares of DY opened at $287.41 on Thursday. The company has a market capitalization of $8.67 billion, a P/E ratio of 26.15, a P/E/G ratio of 0.49 and a beta of 1.49. Dycom Industries has a fifty-two week low of $254.90 and a fifty-two week high of $566.47. The business’s 50-day moving average is $373.82 and its two-hundred day moving average is $401.95. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share for the quarter, beating the consensus estimate of $4.72 by $0.57. The company had revenue of $2.01 billion during 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%.Dycom Industries’s quarterly revenue was up 45.6% on a year-over-year basis. During the same period last year, the business earned $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Research analysts predict that Dycom Industries will post 15.63 earnings per share for the current year.

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

Insider Activity

In related news, Director David Fallon purchased 700 shares of the firm’s stock in a transaction that occurred on 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 $299,257.56. This trade represents a 204.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.22% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Dycom Industries during the 2nd quarter valued at approximately $1,513,523,000. Hill City Capital LP purchased a new stake in Dycom Industries during the 2nd quarter worth about $510,536,693. First Trust Advisors LP boosted its stake in shares of Dycom Industries by 27.8% during the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock worth $270,615,000 after purchasing an additional 173,528 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Dycom Industries during the second quarter valued at approximately $270,174,000. Finally, Geode Capital Management LLC lifted its stake in shares of Dycom Industries by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company’s stock worth $245,771,000 after purchasing an additional 53,993 shares during the period. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Company Profile

Dycom Industries, Inc is a specialty contractor that provides infrastructure construction and maintenance services for the telecommunications and utility industries. The company supports the expansion, upgrade and upkeep of communications networks, including fiber-optic, broadband, wireless and other voice and data systems.

Its services include engineering and design, aerial and underground construction, fiber and cable installation, wireless infrastructure deployment, network maintenance, utility locating, vegetation management and emergency restoration.