KeyCorp Forecasts Strong Price Appreciation for Dycom Industries (NYSE:DY) Stock

Dycom Industries (NYSE:DY) had its target price upped by investment analysts at KeyCorp from $482.00 to $610.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. KeyCorp’s price objective would indicate a potential upside of 19.77% from the stock’s current price.

DY has been the subject of several other reports. Weiss Ratings upgraded Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Cantor Fitzgerald lifted their price target on Dycom Industries from $436.00 to $654.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company lifted their price target on Dycom Industries from $500.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday. Wedbush set a $654.00 price target on Dycom Industries in a research report on Friday. Finally, Guggenheim lifted their price target on Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $554.92.

Dycom Industries Stock Performance

Shares of DY opened at $509.32 on Monday. The firm has a market cap of $15.29 billion, a PE ratio of 48.46, a PEG ratio of 1.17 and a beta of 1.49. The stock’s fifty day moving average price is $402.05 and its two-hundred day moving average price is $377.24. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.58 and a quick ratio of 2.46. Dycom Industries has a 1 year low of $225.34 and a 1 year high of $566.47.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, May 27th. The construction company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $1.69. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.67 billion. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The business’s revenue was up 56.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 earnings per share. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. On average, equities research analysts forecast that Dycom Industries will post 12.89 EPS for the current year.

Institutional Investors Weigh In On Dycom Industries

A number of hedge funds and other institutional investors have recently modified their holdings of DY. Jones Financial Companies Lllp raised its position in Dycom Industries by 4,626.1% during the 1st quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock valued at $331,000 after purchasing an additional 2,128 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Dycom Industries by 7.7% during 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 purchasing an additional 4,985 shares during the last quarter. Invesco Ltd. raised its position in Dycom Industries by 7.0% during the 2nd quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock valued at $55,508,000 after purchasing an additional 14,891 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Dycom Industries by 73.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after purchasing an additional 68 shares during the last quarter. Finally, Cerity Partners LLC raised its position in Dycom Industries by 8.9% during the 2nd quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock valued at $547,000 after purchasing an additional 183 shares during the last quarter. Institutional investors own 98.33% of the company’s stock.

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.