Dycom Industries, Inc. (NYSE:DY) Stock Has Average Target Price of $502.92

Shares of Dycom Industries, Inc. (NYSE:DY) have earned an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $502.92.

Several brokerages have weighed in on DY. Wall Street Zen downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $476.00 price target on shares of Dycom Industries in a research note on Friday, October 9th. Oppenheimer initiated coverage on Dycom Industries in a report on Tuesday, October 27th. They set a “market perform” rating on the stock. Wells Fargo & Company set a $476.00 price objective on shares of Dycom Industries in a research note on Thursday, August 27th. Finally, Weiss Ratings downgraded shares of Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th.

Insider Activity

In related news, Director David Fallon purchased 700 shares of Dycom Industries stock in a transaction dated Tuesday, September 1st. The stock was bought at an average cost of $286.92 per share, with a total value of $200,844.00. Following the purchase, the director owned 1,043 shares in the company, valued at approximately $299,257.56. The trade was a 204.08% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carmen M. Sabater purchased 350 shares of Dycom Industries stock in a transaction dated Wednesday, September 23rd. The stock was bought at an average cost of $280.62 per share, with a total value of $98,217.00. Following the completion of the purchase, the director owned 7,154 shares in the company, valued at approximately $2,007,555.48. This trade represents a 5.14% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.22% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dycom Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in Dycom Industries during the 3rd quarter valued at $31,000. Jacobi Capital Management LLC bought a new stake in shares of Dycom Industries in the 3rd quarter worth $31,000. Allworth Financial LP acquired a new stake in shares of Dycom Industries in the second quarter valued at $35,000. Covestor Ltd lifted its holdings in shares of Dycom Industries by 58.6% in the third quarter. Covestor Ltd now owns 138 shares of the construction company’s stock valued at $37,000 after buying an additional 51 shares during the period. Finally, Legacy Wealth Managment LLC ID lifted its holdings in shares of Dycom Industries by 30.4% in the first quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company’s stock valued at $51,000 after buying an additional 35 shares during the period. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Stock Performance

DY opened at $218.24 on Wednesday. The business’s 50 day moving average is $262.24 and its 200-day moving average is $373.06. The stock has a market cap of $6.58 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 0.37 and a beta of 1.53. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. Dycom Industries has a twelve month low of $186.25 and a twelve month high of $566.47.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.72 by $0.57. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm posted $3.33 earnings per share. The business’s revenue was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, analysts predict that Dycom Industries will post 15.98 earnings per share for the current year.

Dycom Industries declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 26th that authorizes the company to repurchase $150 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Dycom Industries Company Profile

Dycom Industries, Inc. is a specialty contracting company that builds and maintains communications infrastructure. Its customers include telecommunications providers, cable operators and utilities, primarily in the United States. The company provides engineering, design, construction, installation and maintenance services for broadband networks. Its work includes fiber-optic and other wireline systems, wireless infrastructure, and aerial and underground network construction. Founded in 1969, Dycom supports customers as they expand, upgrade and maintain their communications networks.