Dycom Industries (NYSE:DY) Sets New 52-Week Low – What’s Next?

Dycom Industries, Inc. (NYSE:DY)’s stock price hit a new 52-week low during trading on Thursday. The company traded as low as $265.09 and last traded at $269.5320, with a volume of 724847 shares trading hands. The stock had previously closed at $269.04.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DY shares. Zacks Research cut Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $476.00 target price on shares of Dycom Industries in a research note on Thursday, September 24th. Wall Street Zen lowered Dycom Industries from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Weiss Ratings downgraded Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. Finally, Raymond James Financial set a $375.00 price objective on shares of Dycom Industries in a research report on Thursday, September 3rd. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $502.92.

Dycom Industries Price Performance

The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35. The stock’s fifty day moving average price is $338.95 and its 200-day moving average price is $393.36. The firm has a market cap of $8.26 billion, a PE ratio of 24.91, a P/E/G ratio of 0.46 and a beta of 1.50.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results 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. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the firm earned $3.33 EPS. The company’s revenue for the quarter was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, equities analysts forecast that Dycom Industries, Inc. will post 16.06 EPS for the current fiscal year.

Dycom Industries announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Dycom Industries

In other news, Director David Fallon purchased 700 shares of the firm’s stock in a transaction 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 purchase, the director directly owned 1,043 shares of the company’s stock, valued at approximately $299,257.56. This trade represents a 204.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carmen M. Sabater purchased 350 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were purchased at an average price of $280.62 per share, with a total value of $98,217.00. Following the completion of the acquisition, the director owned 7,154 shares of the company’s stock, valued at approximately $2,007,555.48. This represents a 5.14% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.22% of the company’s stock.

Institutional Trading of Dycom Industries

A number of hedge funds have recently bought and sold shares of DY. Royal Bank of Canada grew its holdings in Dycom Industries by 50.1% in the 1st quarter. Royal Bank of Canada now owns 22,327 shares of the construction company’s stock valued at $7,566,000 after buying an additional 7,452 shares during the period. Norges Bank acquired a new stake in shares of Dycom Industries in the fourth quarter worth approximately $19,335,000. Bank of America Corp DE boosted its position in shares of Dycom Industries by 6.1% in the first quarter. Bank of America Corp DE now owns 445,830 shares of the construction company’s stock worth $151,056,000 after acquiring an additional 25,564 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Dycom Industries by 192.9% in the first quarter. Quantinno Capital Management LP now owns 9,982 shares of the construction company’s stock valued at $3,382,000 after purchasing an additional 6,574 shares during the period. Finally, Contravisory Investment Management Inc. grew its holdings in Dycom Industries by 39,655.6% in the second quarter. Contravisory Investment Management Inc. now owns 17,890 shares of the construction company’s stock valued at $9,045,000 after purchasing an additional 17,845 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

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.