Dycom Industries (NYSE:DY) Raised to “Strong-Buy” at Zacks Research

Dycom Industries (NYSE:DY) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on DY. Wedbush set a $654.00 price target on shares of Dycom Industries in a research report on Friday, May 29th. Weiss Ratings raised shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Cantor Fitzgerald lifted their target price on shares of Dycom Industries from $436.00 to $654.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Bank of America boosted their price target on Dycom Industries from $365.00 to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen upgraded Dycom Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $554.92.

Dycom Industries Trading Down 1.0%

NYSE DY opened at $454.07 on Monday. The firm has a market capitalization of $13.64 billion, a PE ratio of 43.20, a P/E/G ratio of 0.86 and a beta of 1.49. The stock’s 50 day moving average is $420.23 and its 200 day moving average is $386.09. Dycom Industries has a twelve month low of $229.97 and a twelve month high of $566.47. The company has a quick ratio of 2.46, a current ratio of 2.58 and a debt-to-equity ratio of 1.48.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $1.69. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.67 billion. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The firm’s quarterly revenue was up 56.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 earnings per share. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Research analysts forecast that Dycom Industries will post 14.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors have recently made changes to their positions in DY. Bank of America Corp DE increased its holdings in shares of Dycom Industries by 6.1% in the 1st quarter. Bank of America Corp DE now owns 445,830 shares of the construction company’s stock worth $151,056,000 after purchasing an additional 25,564 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Dycom Industries by 221.4% during the first quarter. Janus Henderson Group PLC now owns 40,228 shares of the construction company’s stock valued at $13,631,000 after buying an additional 27,712 shares during the last quarter. Amundi increased its holdings in Dycom Industries by 123.5% in the 1st quarter. Amundi now owns 3,048 shares of the construction company’s stock worth $1,033,000 after buying an additional 1,684 shares in the last quarter. California State Teachers Retirement System increased its holdings in Dycom Industries by 24.4% in the 1st quarter. California State Teachers Retirement System now owns 33,872 shares of the construction company’s stock worth $11,477,000 after buying an additional 6,639 shares in the last quarter. Finally, Royal Bank of Canada raised its position 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 worth $7,566,000 after buying an additional 7,452 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

About Dycom Industries

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.