Dycom Industries (NYSE:DY) Hits New 52-Week High – Here’s What Happened

Dycom Industries, Inc. (NYSE:DY) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $449.19 and last traded at $447.9810, with a volume of 85124 shares trading hands. The stock had previously closed at $429.47.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Dycom Industries from $395.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. UBS Group set a $475.00 price target on shares of Dycom Industries and gave the company a “buy” rating in a report on Friday, March 6th. Guggenheim began coverage on shares of Dycom Industries in a report on Thursday, January 22nd. They set a “buy” rating and a $510.00 price objective for the company. Bank of America increased their price objective on shares of Dycom Industries from $365.00 to $475.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $436.00 target price on shares of Dycom Industries in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Dycom Industries presently has a consensus rating of “Buy” and an average target price of $431.64.

Dycom Industries Stock Performance

The company has a market capitalization of $13.77 billion, a PE ratio of 47.74, a P/E/G ratio of 1.00 and a beta of 1.46. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.61 and a current ratio of 2.74. The stock’s 50-day simple moving average is $380.17 and its 200 day simple moving average is $356.41.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, March 4th. The construction company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.12. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.34 billion. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%. Dycom Industries’s revenue was up 34.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 earnings per share. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. As a group, research analysts expect that Dycom Industries, Inc. will post 12.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dycom Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aubrey Capital Management Ltd purchased a new position in shares of Dycom Industries during the 1st quarter valued at $2,561,000. Hillsdale Investment Management Inc. grew its stake in Dycom Industries by 4.6% in the first quarter. Hillsdale Investment Management Inc. now owns 25,975 shares of the construction company’s stock valued at $8,801,000 after purchasing an additional 1,145 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Dycom Industries by 10.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,654 shares of the construction company’s stock worth $560,000 after purchasing an additional 152 shares during the last quarter. State of Michigan Retirement System raised its stake in shares of Dycom Industries by 5.9% during the 1st quarter. State of Michigan Retirement System now owns 7,200 shares of the construction company’s stock worth $2,440,000 after purchasing an additional 400 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Dycom Industries by 3.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,508 shares of the construction company’s stock valued at $2,544,000 after purchasing an additional 263 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

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.