Zacks Research Downgrades Dycom Industries (NYSE:DY) to Hold

Dycom Industries (NYSE:DY) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts have also commented on DY. Wedbush set a $654.00 price objective on Dycom Industries in a research report on Friday, May 29th. Guggenheim raised their target price on shares of Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Wall Street Zen cut shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings raised shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Dycom Industries from $415.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. One equities 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, the stock currently has a consensus rating of “Buy” and an average price target of $554.92.

Dycom Industries Stock Down 5.5%

Shares of DY opened at $400.80 on Monday. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 0.75 and a beta of 1.50. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.46 and a current ratio of 2.58. The business’s fifty day moving average price is $451.98 and its two-hundred day moving average price is $410.41. Dycom Industries has a 52 week low of $233.00 and a 52 week high of $566.47.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, beating 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 company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm earned $2.09 EPS. The business’s revenue for the quarter was up 56.1% on a year-over-year basis. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. On average, analysts predict that Dycom Industries will post 15.45 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in Dycom Industries by 4,626.1% in the first 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Dycom Industries by 7.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock worth $10,622,000 after acquiring an additional 4,985 shares in the last quarter. Invesco Ltd. lifted its holdings in Dycom Industries by 7.0% during the second quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock worth $55,508,000 after acquiring an additional 14,891 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Dycom Industries by 73.1% in the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after acquiring an additional 68 shares during the period. Finally, Cerity Partners LLC grew its stake in Dycom Industries by 8.9% in the second quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock valued at $547,000 after acquiring an additional 183 shares during the period. Institutional investors and hedge funds 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.