Dycom Industries (NYSE:DY) Raised to “Buy” at Wall Street Zen

Dycom Industries (NYSE:DY) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages have also recently weighed in on DY. Guggenheim reaffirmed a “buy” rating and issued a $620.00 price objective on shares of Dycom Industries in a report on Thursday, September 17th. UBS Group reiterated a “buy” rating on shares of Dycom Industries in a research report on Thursday, September 17th. Weiss Ratings lowered Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. JPMorgan Chase & Co. decreased their price target on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, August 27th. Finally, KeyCorp raised their price target on Dycom Industries from $423.00 to $429.00 and gave the stock an “overweight” rating in a research report on Monday, September 21st. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $502.92.

Dycom Industries Stock Up 0.4%

NYSE DY opened at $270.19 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 1-year low of $263.36 and a 1-year high of $566.47. The company has a 50 day moving average of $326.60 and a 200-day moving average of $391.08. The company has a market cap of $8.15 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 0.46 and a beta of 1.50.

Dycom Industries (NYSE:DY) last issued its quarterly 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. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%. The firm’s revenue for the quarter was up 45.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities research analysts expect that Dycom Industries will post 16.06 earnings per share for the current fiscal year.

Dycom Industries declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director David Fallon purchased 700 shares of Dycom Industries stock in a transaction that occurred on Tuesday, September 1st. The shares were acquired at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the transaction, the director owned 1,043 shares of the company’s stock, valued at approximately $299,257.56. The trade was a 204.08% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Carmen M. Sabater acquired 350 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was purchased at an average cost of $280.62 per share, for a total transaction of $98,217.00. Following the completion of the purchase, the director directly owned 7,154 shares of the company’s stock, valued at $2,007,555.48. The trade was a 5.14% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.22% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP bought a new position in shares of Dycom Industries in the 2nd quarter valued at $35,000. Legacy Wealth Managment LLC ID raised its holdings in shares of Dycom Industries by 30.4% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company’s stock worth $51,000 after buying an additional 35 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Dycom Industries during the 2nd quarter worth $52,000. Continuum Advisory LLC bought a new stake in shares of Dycom Industries during the 2nd quarter worth $59,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Dycom Industries during the 3rd quarter worth $67,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

About Dycom Industries

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.