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

Dycom Industries (NYSE:DY)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a research report issued on Thursday, MarketBeat reports. They presently have a $476.00 target price on the construction company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 71.88% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Wells Fargo & Company set a $476.00 price target on Dycom Industries in a report on Thursday, August 27th. Wall Street Zen downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Zacks Research downgraded Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. UBS Group reiterated a “buy” rating on shares of Dycom Industries in a report on Thursday, September 17th. Finally, Weiss Ratings downgraded Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $502.92.

Dycom Industries Price Performance

Shares of NYSE DY traded down $4.00 during mid-day trading on Thursday, reaching $276.94. The company had a trading volume of 80,699 shares, compared to its average volume of 507,637. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. The stock has a market cap of $8.35 billion, a PE ratio of 25.26, a P/E/G ratio of 0.48 and a beta of 1.49. The company has a 50-day moving average price of $360.24 and a two-hundred day moving average price of $397.95. Dycom Industries has a 1-year low of $266.84 and a 1-year high of $566.47.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.72 by $0.57. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The company’s quarterly revenue was up 45.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities analysts anticipate that Dycom Industries will post 15.94 earnings per share for the current year.

Dycom Industries declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director David Fallon bought 700 shares of the stock in a transaction on Tuesday, September 1st. The shares were purchased at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the completion of the purchase, the director directly owned 1,043 shares of the company’s stock, valued at $299,257.56. This trade represents a 204.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.22% of the stock is owned by company insiders.

Institutional Trading of Dycom Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP acquired a new stake in shares of Dycom Industries in the second quarter worth about $35,000. Harbor Investment Advisory LLC acquired a new stake in shares of Dycom Industries in the second quarter worth about $52,000. Continuum Advisory LLC acquired a new stake in shares of Dycom Industries in the second quarter worth about $59,000. Nemes Rush Group LLC acquired a new stake in shares of Dycom Industries in the fourth quarter worth about $40,000. Finally, Clearstead Advisors LLC lifted its position in shares of Dycom Industries by 212.8% in the fourth quarter. Clearstead Advisors LLC now owns 122 shares of the construction company’s stock worth $41,000 after buying an additional 83 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

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.