Dycom Industries (NYSE:DY) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Dycom Industries (NYSE:DY) from a buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other analysts also recently commented on the stock. Weiss Ratings downgraded shares of Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. JPMorgan Chase & Co. cut their price target on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, August 27th. UBS Group reissued a “buy” rating on shares of Dycom Industries in a report on Thursday, September 17th. Guggenheim restated a “buy” rating and issued a $620.00 target price on shares of Dycom Industries in a research note on Thursday, September 17th. Finally, Raymond James Financial set a $375.00 target price on Dycom Industries in a report on Thursday, September 3rd. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $502.92.

Dycom Industries Price Performance

Dycom Industries stock opened at $220.67 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35. Dycom Industries has a 52 week low of $215.28 and a 52 week high of $566.47. The stock has a market capitalization of $6.66 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 0.40 and a beta of 1.50. The stock has a fifty day moving average of $275.49 and a 200-day moving average of $377.72.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share for the quarter, topping 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 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 firm posted $3.33 EPS. The company’s revenue for the quarter was up 45.6% compared to the same quarter last year. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, sell-side analysts expect that Dycom Industries will post 15.98 earnings per share for the current fiscal year.

Dycom Industries announced that its board has initiated a stock buyback plan on Wednesday, August 26th that allows the company to repurchase $150 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 1.4% of its shares through open market purchases. Share buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Dycom Industries news, Director David Fallon bought 700 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were acquired at an average cost of $286.92 per share, for a total transaction of $200,844.00. Following the purchase, the director directly owned 1,043 shares of the company’s stock, valued at $299,257.56. The trade was a 204.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carmen Sabater bought 350 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The stock was acquired at an average price 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 in the company, valued at approximately $2,007,555.48. The trade was a 5.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC bought a new stake in Dycom Industries during the third quarter valued at approximately $31,000. Allworth Financial LP bought a new position in shares of Dycom Industries in the 2nd quarter worth $35,000. Covestor Ltd raised its position in shares of Dycom Industries by 58.6% during the 3rd quarter. Covestor Ltd now owns 138 shares of the construction company’s stock valued at $37,000 after buying an additional 51 shares in the last quarter. Legacy Wealth Managment LLC ID raised its position 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 valued at $51,000 after buying an additional 35 shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Dycom Industries during the 2nd quarter valued at $52,000. 98.33% of the stock is currently owned by institutional investors.

About Dycom Industries

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.