Dycom Industries (NYSE:DY) Rating Lowered to “Buy” at Wall Street Zen

Dycom Industries (NYSE:DY) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

A number of other research firms have also issued reports on DY. Guggenheim boosted their price target on shares of Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Wedbush set a $654.00 price objective on shares of Dycom Industries in a research note on Friday, May 29th. Cantor Fitzgerald lifted their price objective on shares of Dycom Industries from $436.00 to $654.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. boosted their target price on shares of Dycom Industries from $415.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Finally, UBS Group restated a “buy” rating on shares of Dycom Industries in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. Based on data from MarketBeat, Dycom Industries currently has an average rating of “Buy” and a consensus price target of $554.92.

Dycom Industries Trading Up 0.2%

NYSE:DY opened at $430.58 on Friday. The stock has a fifty day simple moving average of $452.12 and a 200 day simple moving average of $409.56. The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of 40.97, a price-to-earnings-growth ratio of 0.76 and a beta of 1.50. Dycom Industries has a 1-year low of $233.00 and a 1-year high of $566.47. The company has a quick ratio of 2.46, a current ratio of 2.58 and a debt-to-equity ratio of 1.48.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $1.69. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company earned $2.09 EPS. The business’s revenue for the quarter was up 56.1% compared to the same quarter last year. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Sell-side analysts forecast that Dycom Industries will post 15.45 earnings per share for the current year.

Institutional Trading of Dycom Industries

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its holdings in shares of Dycom Industries by 4,626.1% during the first quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock worth $331,000 after purchasing an additional 2,128 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Dycom Industries by 7.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock valued at $10,622,000 after buying an additional 4,985 shares during the period. Invesco Ltd. lifted its position in Dycom Industries by 7.0% in the 2nd quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock worth $55,508,000 after buying an additional 14,891 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Dycom Industries by 73.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock worth $39,000 after buying an additional 68 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in Dycom Industries by 8.9% in the 2nd quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock worth $547,000 after buying an additional 183 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Company Profile

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.