Dycom Industries, Inc. (DY) – What Are Investment Firms Saying About This Stock?

Dycom Industries, Inc. (NYSE:DY) has received an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $502.92.

A number of research firms have weighed in on DY. Wells Fargo & Company set a $476.00 target price on shares of Dycom Industries in a report on Thursday, August 27th. Guggenheim reaffirmed a “buy” rating and set a $620.00 price target on shares of Dycom Industries in a research note on Thursday, September 17th. UBS Group reiterated a “buy” rating on shares of Dycom Industries in a report on Thursday, September 17th. Weiss Ratings lowered shares of Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. Finally, KeyCorp boosted their price objective on shares of Dycom Industries from $423.00 to $429.00 and gave the stock an “overweight” rating in a research note on Monday, September 21st.

Dycom Industries Stock Down 0.3%

Shares of NYSE:DY opened at $224.55 on Friday. The company has a fifty day moving average of $294.77 and a 200-day moving average of $384.23. The company has a market capitalization of $6.77 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.38 and a beta of 1.50. 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 has a 52-week low of $215.28 and a 52-week high of $566.47.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, beating analysts’ consensus estimates of $4.72 by $0.57. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the company earned $3.33 EPS. Dycom Industries’s revenue was up 45.6% compared to the same quarter last year. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities analysts predict that Dycom Industries will post 16.06 EPS for the current fiscal year.

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

Insider Buying and Selling

In other news, Director Carmen M. Sabater acquired 350 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The stock was bought at an average cost of $280.62 per share, for a total transaction of $98,217.00. Following the completion of the transaction, the director directly owned 7,154 shares in the company, valued at $2,007,555.48. This represents a 5.14% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Fallon acquired 700 shares of the stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average cost of $286.92 per share, with a total value of $200,844.00. Following the completion of the transaction, the director owned 1,043 shares in the company, valued at approximately $299,257.56. This represents a 204.08% increase in their position. The SEC filing for this purchase provides additional information. 1.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dycom Industries

Several large investors have recently added to or reduced their stakes in DY. BlackRock Inc. purchased a new stake in shares of Dycom Industries in the second quarter worth $1,513,523,000. Hill City Capital LP bought a new stake in Dycom Industries during the second quarter valued at $510,536,693. Bank of America Corp DE bought a new stake in Dycom Industries during the second quarter valued at $270,174,000. Bank of New York Mellon Corp purchased a new position in Dycom Industries during the second quarter worth about $90,216,000. Finally, First Trust Advisors LP grew its position in Dycom Industries by 27.8% during the first 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 in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

About Dycom Industries

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.