Wells Fargo & Company Lowers Dycom Industries (NYSE:DY) Price Target to $550.00

Dycom Industries (NYSE:DY) had its target price lowered by investment analysts at Wells Fargo & Company from $650.00 to $550.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 79.14% from the company’s current price.

A number of other analysts have also commented on DY. JPMorgan Chase & Co. lifted their price objective on Dycom Industries from $415.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Wall Street Zen downgraded shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings raised shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Zacks Research cut shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Guggenheim boosted their price target on shares of Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $535.82.

Dycom Industries Stock Down 1.2%

Shares of DY opened at $307.03 on Thursday. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 0.62 and a beta of 1.54. 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 $424.20 and its two-hundred day moving average price is $415.22. Dycom Industries has a 52 week low of $242.55 and a 52 week high of $566.47.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, beating the consensus estimate of $4.72 by $0.57. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm earned $3.33 EPS. The business’s revenue for the quarter 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 15.45 earnings per share for the current year.

Dycom Industries announced that its board has approved a share repurchase plan on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Dycom Industries

Several hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its stake in shares of Dycom Industries by 4,626.1% in the 1st quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock valued at $331,000 after acquiring an additional 2,128 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 valued at $10,622,000 after purchasing an additional 4,985 shares during the period. Invesco Ltd. increased its stake in Dycom Industries by 7.0% in the second 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Dycom Industries by 73.1% in the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock worth $39,000 after purchasing an additional 68 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of Dycom Industries by 8.9% during the second quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock worth $547,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Key Headlines Impacting Dycom Industries

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Dycom reported record fiscal Q2 results: contract revenue rose 45.6% year over year to $2.006 billion, adjusted EPS reached $5.29 versus the $4.72 consensus, and adjusted EBITDA was $315.5 million versus expectations of about $297 million. Dycom Industries fiscal second-quarter results
• Positive Sentiment: Total backlog increased 53.2% to a record $12.242 billion, providing substantial revenue visibility. Strong fiber, broadband and data-center infrastructure demand also supports the longer-term growth outlook and the AI infrastructure investment theme. Why Dycom’s earnings beat points to an AI infrastructure boom
• Positive Sentiment: Management raised fiscal 2027 revenue guidance to approximately $7.5 billion-$7.7 billion and authorized a new $150 million share-repurchase program, equivalent to as much as 1.4% of outstanding shares. The buyback may signal that the board views the shares as undervalued. Dycom $150 million repurchase authorization
• Neutral Sentiment: KeyCorp and Cantor Fitzgerald maintained “overweight” ratings, but reduced their price targets to $423 and $476, respectively. The targets remain above the current share price, although the reductions reflect increased caution following the earnings release. Analyst price-target updates
• Negative Sentiment: Fiscal Q3 adjusted EPS guidance of $4.33-$4.79 came in below the $4.68 consensus midpoint comparison is complicated by the broad range, but the low end and expected wireless-work deferrals raised concerns. About $150 million of wireless projects are shifting into fiscal 2028, weighing on near-term estimates. Dycom wireless work deferrals

About Dycom Industries

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.