Dycom Industries (NYSE:DY) Earns Overweight Rating from Cantor Fitzgerald

Dycom Industries (NYSE:DY)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a report released on Thursday, MarketBeat reports. They currently have a $476.00 target price on the construction company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 72.92% from the company’s current price.

DY has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their target price on shares of Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, August 27th. Zacks Research cut shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. UBS Group restated a “buy” rating on shares of Dycom Industries in a research note on Thursday, September 17th. Wedbush set a $654.00 price objective on shares of Dycom Industries in a research note on Friday, May 29th. Finally, Guggenheim restated a “buy” rating and set a $620.00 target price on shares of Dycom Industries in a research note on Thursday, September 17th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $502.92.

Dycom Industries Trading Down 2.0%

NYSE DY traded down $5.67 during trading on Thursday, hitting $275.27. The company had a trading volume of 131,344 shares, compared to its average volume of 507,898. 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 one year low of $266.84 and a one year high of $566.47. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 0.48 and a beta of 1.49. The company’s fifty day moving average is $360.24 and its 200-day moving average is $397.95.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, topping 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 net margin of 4.79% and a return on equity of 25.30%. The company’s revenue for the quarter was up 45.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, sell-side analysts predict that Dycom Industries will post 15.94 earnings per share for the current year.

Dycom Industries announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 26th that authorizes the company to buyback $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. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Dycom Industries

In other news, Director David Fallon acquired 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, for a total transaction of $200,844.00. Following the completion of the acquisition, the director directly owned 1,043 shares of the company’s stock, valued at $299,257.56. The trade was a 204.08% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Dycom Industries

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Dycom Industries in the second quarter worth about $1,513,523,000. Hill City Capital LP purchased a new stake in shares of Dycom Industries during the second quarter worth about $510,536,693. First Trust Advisors LP grew its stake in shares of 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 acquiring an additional 173,528 shares during the last quarter. Bank of America Corp DE purchased a new stake in Dycom Industries in the second quarter valued at approximately $270,174,000. Finally, Geode Capital Management LLC boosted its position in Dycom Industries by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company’s stock valued at $245,771,000 after buying an additional 53,993 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.