Dycom Industries (NYSE:DY) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Dycom Industries (NYSE:DY) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

DY has been the subject of several other research reports. B. Riley Financial raised their price objective on Dycom Industries from $485.00 to $625.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Zacks Research cut shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings cut Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, August 31st. UBS Group reiterated a “buy” rating on shares of Dycom Industries in a research report on Thursday. Finally, Raymond James Financial set a $375.00 price objective on Dycom Industries in a research report on Thursday, September 3rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $502.92.

Dycom Industries Stock Down 0.1%

Shares of NYSE:DY opened at $291.54 on Friday. The stock’s 50-day moving average price is $365.92 and its 200-day moving average price is $399.32. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. Dycom Industries has a 12-month low of $266.09 and a 12-month high of $566.47. The stock has a market capitalization of $8.79 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 0.50 and a beta of 1.49.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data 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 firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The business’s revenue was up 45.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities analysts anticipate that Dycom Industries will post 15.82 earnings per share for the current year.

Dycom Industries announced that its board has approved a share buyback plan on Wednesday, August 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Dycom Industries

In other Dycom Industries news, Director David Fallon acquired 700 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was purchased at an average price of $286.92 per share, with a total value of $200,844.00. Following the completion of the purchase, the director directly owned 1,043 shares in the company, valued at approximately $299,257.56. The trade was a 204.08% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DY. BlackRock Inc. bought a new position in shares of Dycom Industries during the 2nd quarter valued at about $1,513,523,000. Hill City Capital LP bought a new stake in shares of Dycom Industries in the second quarter worth about $510,536,693. Bank of America Corp DE purchased a new stake in shares of Dycom Industries in the second quarter worth about $270,174,000. Bank of New York Mellon Corp purchased a new stake in shares of Dycom Industries in the second quarter worth about $90,216,000. Finally, First Trust Advisors LP boosted its stake 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 valued at $270,615,000 after buying an additional 173,528 shares during the last quarter. 98.33% of the stock is currently owned by 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.