Dycom Industries (NYSE:DY) Sets New 1-Year High – Here’s What Happened

Dycom Industries, Inc. (NYSE:DY) shares hit a new 52-week high on Thursday . The company traded as high as $365.25 and last traded at $364.7610, with a volume of 132483 shares traded. The stock had previously closed at $355.83.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DY shares. KeyCorp increased their price target on shares of Dycom Industries from $320.00 to $392.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. Raymond James Financial upped their target price on shares of Dycom Industries from $290.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, August 21st. Wall Street Zen upgraded Dycom Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 23rd. Wells Fargo & Company upped their price objective on Dycom Industries from $315.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Finally, B. Riley raised their price objective on Dycom Industries from $320.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Dycom Industries presently has an average rating of “Buy” and an average target price of $371.25.

Dycom Industries Trading Up 2.4%

The company has a debt-to-equity ratio of 0.62, a current ratio of 3.09 and a quick ratio of 2.90. The business’s 50-day moving average is $307.88 and its 200 day moving average is $273.34. The firm has a market capitalization of $10.55 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 1.81 and a beta of 1.36.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, November 19th. The construction company reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.48. Dycom Industries had a net margin of 5.75% and a return on equity of 22.21%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the business posted $2.68 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. Dycom Industries has set its Q4 2026 guidance at 1.620-1.970 EPS. As a group, analysts anticipate that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Dycom Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers bought a new position in shares of Dycom Industries in the first quarter worth $387,000. LPL Financial LLC lifted its position in Dycom Industries by 6.8% during the first quarter. LPL Financial LLC now owns 10,798 shares of the construction company’s stock worth $1,645,000 after purchasing an additional 685 shares during the period. Citigroup Inc. grew its stake in Dycom Industries by 2.2% during the first quarter. Citigroup Inc. now owns 45,830 shares of the construction company’s stock worth $6,982,000 after buying an additional 989 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Dycom Industries in the 1st quarter valued at about $1,355,000. Finally, Entropy Technologies LP acquired a new position in shares of Dycom Industries in the 1st quarter valued at approximately $249,000. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.