Brokerages Set Dycom Industries, Inc. (NYSE:DY) PT at $514.00

Shares of Dycom Industries, Inc. (NYSE:DY) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $502.4167.

Several research analysts recently weighed in on DY shares. Raymond James Financial set a $375.00 price target on shares of Dycom Industries in a research report on Thursday. Guggenheim boosted their price target on Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wells Fargo & Company set a $476.00 target price on Dycom Industries in a research report on Thursday, August 27th. UBS Group cut their price objective on Dycom Industries from $611.00 to $525.00 and set a “buy” rating on the stock in a report on Thursday, August 27th. Finally, Weiss Ratings lowered Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday.

Dycom Industries Stock Performance

Shares of DY stock opened at $294.46 on Friday. 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 12-month low of $243.80 and a 12-month high of $566.47. The business’s 50 day moving average is $403.13 and its two-hundred day moving average is $410.08. The company has a market capitalization of $8.88 billion, a P/E ratio of 26.79, a P/E/G ratio of 0.52 and a beta of 1.49.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.72 by $0.57. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The business’s revenue was up 45.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Analysts expect that Dycom Industries will post 15.63 EPS for the current fiscal year.

Dycom Industries announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director David Fallon bought 700 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average cost of $286.92 per share, with a total value of $200,844.00. Following the purchase, the director directly owned 1,043 shares of the company’s stock, valued at $299,257.56. This trade represents a 204.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP increased its position in shares of Dycom Industries by 107.4% in the 2nd quarter. Corient Private Wealth LP now owns 16,864 shares of the construction company’s stock valued at $8,526,000 after purchasing an additional 8,731 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Dycom Industries in the 2nd quarter valued at $2,755,000. California State Teachers Retirement System increased its position in shares of Dycom Industries by 51,902.4% during the second quarter. California State Teachers Retirement System now owns 17,614,250 shares of the construction company’s stock worth $8,905,589,000 after purchasing an additional 17,580,378 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Dycom Industries in the 2nd quarter valued at about $383,000. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Dycom Industries by 4.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 20,549 shares of the construction company’s stock valued at $9,674,000 after purchasing an additional 880 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

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.