Dycom Industries (NYSE:DY) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Dycom Industries (NYSE:DY) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. B. Riley Financial raised their price target on shares of Dycom Industries from $485.00 to $625.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen lowered Dycom Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company increased their price objective on Dycom Industries from $500.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Weiss Ratings upgraded Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. Finally, UBS Group reaffirmed a “buy” rating on shares of Dycom Industries in a research report on Friday. One 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’s stock. According to MarketBeat.com, Dycom Industries has an average rating of “Buy” and an average target price of $554.92.

Dycom Industries Stock Performance

DY opened at $400.80 on Monday. Dycom Industries has a 1-year low of $233.00 and a 1-year high of $566.47. The company has a market cap 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’s fifty day moving average price is $451.98 and its two-hundred day moving average price is $410.41. The company has a current ratio of 2.58, a quick ratio of 2.46 and a debt-to-equity ratio of 1.48.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $1.69. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The business’s revenue was up 56.1% on a year-over-year basis. During the same period last year, the company earned $2.09 earnings per share. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. On average, analysts expect that Dycom Industries will post 15.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Dycom Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in shares of Dycom Industries by 4,626.1% during the 1st quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock worth $331,000 after buying an additional 2,128 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Dycom Industries by 7.7% in 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 acquiring an additional 4,985 shares in the last quarter. Invesco Ltd. grew its holdings in shares of 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 acquiring an additional 14,891 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Dycom Industries by 73.1% during 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 last quarter. Finally, Cerity Partners LLC increased 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 valued at $547,000 after acquiring an additional 183 shares during the last quarter. 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.