Dycom Industries (NYSE:DY) Sets New 52-Week Low – Here’s Why

Dycom Industries, Inc. (NYSE:DY)’s stock price hit a new 52-week low on Tuesday. The stock traded as low as $246.34 and last traded at $251.6040, with a volume of 26,251 shares. The stock had previously closed at $254.39.

Analyst Ratings Changes

Several analysts recently issued reports on DY shares. KeyCorp boosted their target price on shares of Dycom Industries from $423.00 to $429.00 and gave the company an “overweight” rating in a research report on Monday, September 21st. UBS Group reaffirmed a “buy” rating on shares of Dycom Industries in a report on Thursday, September 17th. JPMorgan Chase & Co. decreased their price target on shares of Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, August 27th. Guggenheim reiterated a “buy” rating and issued a $620.00 price target on shares of Dycom Industries in a research report on Thursday, September 17th. Finally, Zacks Research cut shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Dycom Industries currently has an average rating of “Moderate Buy” and a consensus target price of $502.92.

Dycom Industries Stock Up 0.0%

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 firm has a market capitalization of $7.67 billion, a P/E ratio of 23.30, a P/E/G ratio of 0.43 and a beta of 1.50. The company has a 50 day simple moving average of $308.87 and a two-hundred day simple moving average of $387.68.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data 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 business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The company’s revenue was up 45.6% on a year-over-year basis. During the same period last year, the firm 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 EPS for the current fiscal year.

Dycom Industries declared that its Board of Directors has authorized a share buyback program on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 1.4% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Carmen Sabater bought 350 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,007,555.48. The trade was a 5.14% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Fallon bought 700 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were bought at an average cost 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 of the company’s stock, valued at $299,257.56. This represents a 204.08% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Dycom Industries

Several hedge funds have recently bought and sold shares of DY. Royal Bank of Canada boosted its stake in shares of Dycom Industries by 50.1% during the 1st quarter. Royal Bank of Canada now owns 22,327 shares of the construction company’s stock worth $7,566,000 after purchasing an additional 7,452 shares during the period. Public Employees Retirement System of Ohio bought a new position in Dycom Industries during the 2nd quarter valued at about $4,413,000. Bank of America Corp DE bought a new position in Dycom Industries during the 2nd quarter valued at about $270,174,000. Corient Private Wealth LP raised its position in Dycom Industries by 107.4% in the 2nd quarter. Corient Private Wealth LP now owns 16,864 shares of the construction company’s stock worth $8,526,000 after purchasing an additional 8,731 shares during the period. Finally, Quantinno Capital Management LP raised its position in Dycom Industries by 192.9% in the 1st quarter. Quantinno Capital Management LP now owns 9,982 shares of the construction company’s stock worth $3,382,000 after purchasing an additional 6,574 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Company Profile

Dycom Industries, Inc is a specialty contracting company that provides infrastructure services to telecommunications providers, utilities, cable and broadband companies, and government agencies. Headquartered in Palm Beach Gardens, Florida, the company operates primarily across the United States.

Its services include engineering, construction, installation, maintenance, and repair of telecommunications infrastructure. Dycom supports the deployment of fiber-optic networks, broadband systems, wireless networks, underground and aerial lines, and other communications facilities.