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

Dycom Industries (NYSE:DY)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $476.00 target price on the construction company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 73.06% from the stock’s current price.

Several other research analysts have also commented on DY. Guggenheim reissued a “buy” rating and issued a $620.00 price objective on shares of Dycom Industries in a research report on Thursday, September 17th. Wedbush set a $654.00 target price on Dycom Industries in a research report on Friday, May 29th. Wells Fargo & Company set a $476.00 price objective on Dycom Industries in a report on Thursday, August 27th. KeyCorp lifted their target price on Dycom Industries from $423.00 to $429.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wall Street Zen downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $502.92.

Dycom Industries Price Performance

DY stock opened at $275.05 on Thursday. Dycom Industries has a 52-week low of $266.84 and a 52-week high of $566.47. The stock’s fifty day simple moving average is $360.24 and its 200-day simple moving average is $397.95. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 0.48 and a beta of 1.49.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (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 firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the business earned $3.33 earnings per share. The firm’s quarterly 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. Equities research analysts expect that Dycom Industries will post 15.94 EPS for the current year.

Dycom Industries announced that its board has authorized a share repurchase program on Wednesday, August 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director David Fallon bought 700 shares of the business’s stock in a transaction 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 transaction, the director directly owned 1,043 shares of the company’s stock, valued at approximately $299,257.56. This trade represents 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 company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DY. Tidal Investments LLC increased its holdings in shares of Dycom Industries by 25.2% in the second quarter. Tidal Investments LLC now owns 48,093 shares of the construction company’s stock valued at $24,315,000 after buying an additional 9,691 shares in the last quarter. WINTON GROUP Ltd grew its holdings in shares of Dycom Industries by 173.3% during the 2nd quarter. WINTON GROUP Ltd now owns 1,640 shares of the construction company’s stock valued at $829,000 after acquiring an additional 1,040 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Dycom Industries during the 2nd quarter valued at $91,000. NewEdge Advisors LLC grew its holdings in shares of Dycom Industries by 1,124.4% during the 2nd quarter. NewEdge Advisors LLC now owns 551 shares of the construction company’s stock valued at $279,000 after acquiring an additional 506 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Dycom Industries by 0.5% in the second quarter. Arizona State Retirement System now owns 8,283 shares of the construction company’s stock worth $4,188,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 98.33% of the company’s stock.

About Dycom Industries

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.