Dycom Industries (NYSE:DY) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Dycom Industries (NYSE:DY) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. KeyCorp increased their price objective on shares of Dycom Industries from $482.00 to $610.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Bank of America increased their price objective on shares of Dycom Industries from $365.00 to $475.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Wells Fargo & Company increased their price objective on shares of Dycom Industries from $500.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Cantor Fitzgerald increased their price objective on shares of Dycom Industries from $436.00 to $654.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Guggenheim increased their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $554.92.

Dycom Industries Trading Down 1.0%

Dycom Industries stock opened at $454.07 on Monday. The firm has a 50 day moving average of $420.23 and a 200 day moving average of $386.09. The firm has a market capitalization of $13.64 billion, a price-to-earnings ratio of 43.20, a P/E/G ratio of 0.86 and a beta of 1.49. Dycom Industries has a 12-month low of $229.97 and a 12-month high of $566.47. The company has a current ratio of 2.58, a quick ratio of 2.46 and a debt-to-equity ratio of 1.48.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $1.69. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm posted $2.09 EPS. The company’s revenue was up 56.1% on a year-over-year basis. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. As a group, research analysts predict that Dycom Industries will post 14.54 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Nordea Investment Management AB grew its holdings in shares of Dycom Industries by 5,603.6% in the fourth quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company’s stock valued at $139,057,000 after purchasing an additional 398,469 shares in the last quarter. Wilson Asset Management International PTY Ltd. purchased a new stake in shares of Dycom Industries during the fourth quarter valued at $1,014,000. New York Life Investment Management LLC purchased a new stake in shares of Dycom Industries during the third quarter valued at $830,000. American Century Companies Inc. boosted its stake in shares of Dycom Industries by 58.4% during the third quarter. American Century Companies Inc. now owns 97,801 shares of the construction company’s stock valued at $28,534,000 after purchasing an additional 36,074 shares during the period. Finally, 12th Street Asset Management Company LLC boosted its stake in shares of Dycom Industries by 48.9% during the third quarter. 12th Street Asset Management Company LLC now owns 67,238 shares of the construction company’s stock valued at $19,617,000 after purchasing an additional 22,077 shares during the period. 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.