Dycom Industries (NYSE:DY) Hits New 52-Week Low – Time to Sell?

Shares of Dycom Industries, Inc. (NYSE:DY) hit a new 52-week low on Tuesday. The stock traded as low as $262.17 and last traded at $265.8850, with a volume of 26,881 shares trading hands. The stock had previously closed at $266.99.

Wall Street Analyst Weigh In

Several research firms have issued reports on DY. Wall Street Zen raised shares of Dycom Industries from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Guggenheim reiterated a “buy” rating and set a $620.00 price target on shares of Dycom Industries in a report on Thursday, September 17th. Wells Fargo & Company set a $476.00 price target on shares of Dycom Industries in a report on Thursday, August 27th. Zacks Research lowered shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, UBS Group reissued a “buy” rating on shares of Dycom Industries in a research note on Thursday, September 17th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Dycom Industries currently has a consensus rating of “Moderate Buy” and an average target price of $502.92.

Dycom Industries Trading Down 3.6%

The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 0.46 and a beta of 1.50. The business has a 50 day simple moving average of $317.73 and a 200-day simple moving average of $389.37.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, beating analysts’ consensus estimates of $4.72 by $0.57. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The company’s quarterly revenue was up 45.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities analysts predict that Dycom Industries, Inc. will post 16.06 earnings per share for the current year.

Dycom Industries announced that its board has initiated a stock buyback program on Wednesday, August 26th that authorizes the company to buy back $150.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 1.4% of its shares through open market purchases. Share repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director David Fallon purchased 700 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were bought at an average price of $286.92 per share, with a total value of $200,844.00. Following the completion of the purchase, the director directly owned 1,043 shares in the company, valued at approximately $299,257.56. This trade represents a 204.08% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carmen M. Sabater purchased 350 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were bought at an average cost of $280.62 per share, for a total transaction of $98,217.00. Following the purchase, the director owned 7,154 shares of the company’s stock, valued at $2,007,555.48. This trade represents a 5.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.22% of the stock is currently owned by insiders.

Institutional Trading of Dycom Industries

Several institutional investors have recently made changes to their positions in the stock. Essex LLC acquired a new position in Dycom Industries during the third quarter valued at approximately $2,604,000. Heffernan Advisory Inc. grew its stake in Dycom Industries by 74.3% during the third quarter. Heffernan Advisory Inc. now owns 1,220 shares of the construction company’s stock worth $328,000 after buying an additional 520 shares during the period. Avior Wealth Management LLC increased its position in shares of Dycom Industries by 25.0% in the third quarter. Avior Wealth Management LLC now owns 821 shares of the construction company’s stock worth $221,000 after acquiring an additional 164 shares in the last quarter. Venture Visionary Partners LLC acquired a new stake in shares of Dycom Industries in the third quarter worth $838,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Dycom Industries in the 3rd quarter valued at $67,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Company Profile

Dycom Industries, Inc is a provider of specialty contracting services for the telecommunications and utility industries. Through its operating subsidiaries, the company designs, builds, installs, maintains and repairs infrastructure used by telecommunications providers, utilities and government agencies.

Its services include engineering and project management, aerial and underground construction, fiber-optic and broadband network deployment, wireless infrastructure installation, network maintenance, fulfillment services and emergency restoration.