KeyCorp Cuts Dycom Industries (NYSE:DY) Price Target to $423.00

Dycom Industries (NYSE:DY) had its price target reduced by KeyCorp from $610.00 to $423.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Several other equities research analysts have also weighed in on the company. Guggenheim lifted their price objective on Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. B. Riley Financial lifted their target price on shares of Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Cantor Fitzgerald decreased their price objective on Dycom Industries from $654.00 to $476.00 and set an “overweight” rating on the stock in a research note on Thursday. Weiss Ratings raised Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Dycom Industries from $415.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $514.00.

Dycom Industries Price Performance

Shares of NYSE DY opened at $295.11 on Thursday. The stock has a fifty day simple moving average of $418.01 and a two-hundred day simple moving average of $413.73. Dycom Industries has a 1-year low of $242.55 and a 1-year high of $566.47. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 0.52 and a beta of 1.54. The company has a current ratio of 2.35, a quick ratio of 2.46 and a debt-to-equity ratio of 1.35.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $0.57. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company posted $3.33 earnings per share. The business’s revenue was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Analysts anticipate that Dycom Industries will post 15.44 earnings per share for the current year.

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

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors have recently added to or reduced their stakes in DY. Kemnay Advisory Services Inc. purchased a new stake in shares of Dycom Industries in the 4th quarter valued at about $30,000. Allworth Financial LP bought a new position in shares of Dycom Industries in the second quarter worth approximately $35,000. Acumen Wealth Advisors LLC bought a new position in shares of Dycom Industries in the fourth quarter worth approximately $35,000. Legacy Wealth Managment LLC ID purchased a new stake in Dycom Industries in the fourth quarter valued at approximately $39,000. Finally, EverSource Wealth Advisors LLC lifted its position in 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 purchasing an additional 68 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries News Summary

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

• Positive Sentiment: Dycom reported second-quarter earnings of $5.29 per share, above the $4.72 consensus estimate, while revenue reached approximately $2.01 billion versus expectations of $1.98 billion. Revenue increased 45.6% year over year, supported by communications infrastructure and digital-infrastructure demand. Dycom Industries beats Q2 forecasts as digital infrastructure demand accelerates
• Positive Sentiment: Management raised its fiscal 2027 revenue outlook, citing continued strength in fiber, data-center connectivity and Building Systems. These trends point to a multiyear opportunity from fiber-network expansion and AI-related infrastructure spending. DY Q2 Earnings Call Focuses on Fiber Demand and Higher Outlook
• Positive Sentiment: The board authorized a $150 million share-repurchase program, equivalent to as much as 1.4% of outstanding shares. The authorization may support per-share results and signals that management believes the stock is undervalued. Stock Buyback Program Declared by Dycom Industries
• Neutral Sentiment: JPMorgan, UBS, Wells Fargo, KeyCorp and Cantor Fitzgerald lowered their price targets following the earnings report but retained bullish ratings, including “overweight” or “buy.” The target cuts reflect reduced near-term assumptions rather than a broadly negative long-term view.
• Negative Sentiment: The main pressure is fiscal third-quarter EPS guidance of $4.33 to $4.79, which is below analyst expectations. Investors are also concerned about a $150 million wireless-revenue deferral, helping explain why the strong quarterly beat has not translated into positive stock performance. Why Dycom Industries Stock Is Plummeting This Week

Dycom Industries Company Profile

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.