Wall Street Zen Downgrades Dycom Industries (NYSE:DY) to Hold

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

Other analysts have also recently issued research reports about the stock. B. Riley Financial boosted their target price on shares of Dycom Industries from $485.00 to $625.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Guggenheim reiterated a “buy” rating and issued a $620.00 price target on shares of Dycom Industries in a research note on Thursday. Weiss Ratings cut shares of Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, August 31st. Cantor Fitzgerald lowered their price target on shares of Dycom Industries from $654.00 to $476.00 and set an “overweight” rating for the company in a research report on Thursday, August 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday, August 27th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Dycom Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $502.42.

Dycom Industries Stock Down 0.2%

Shares of NYSE:DY opened at $291.17 on Friday. The firm has a market capitalization of $8.78 billion, a P/E ratio of 26.49, a P/E/G ratio of 0.50 and a beta of 1.49. 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 has a 50 day moving average price of $368.31 and a 200-day moving average price of $400.10. Dycom Industries has a 52-week low of $266.09 and a 52-week high of $566.47.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share for the quarter, beating the consensus estimate of $4.72 by $0.57. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates 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 was up 45.6% on a year-over-year basis. 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. As a group, equities research analysts anticipate that Dycom Industries will post 15.82 EPS for the current fiscal year.

Dycom Industries announced that its board has approved a share repurchase program on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Dycom Industries

In related news, Director David Fallon purchased 700 shares of Dycom Industries stock in a transaction dated Tuesday, September 1st. The stock was purchased at an average cost of $286.92 per share, for a total transaction of $200,844.00. Following the completion of the acquisition, 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 filing with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is owned by insiders.

Institutional Trading of Dycom Industries

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC increased its stake in Dycom Industries by 25.2% during the 2nd quarter. Tidal Investments LLC now owns 48,093 shares of the construction company’s stock valued at $24,315,000 after purchasing an additional 9,691 shares in the last quarter. WINTON GROUP Ltd lifted its stake in shares of Dycom Industries by 173.3% in the second quarter. WINTON GROUP Ltd now owns 1,640 shares of the construction company’s stock worth $829,000 after buying an additional 1,040 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Dycom Industries in the second quarter worth approximately $91,000. NewEdge Advisors LLC grew its holdings in shares of Dycom Industries by 1,124.4% during the second quarter. NewEdge Advisors LLC now owns 551 shares of the construction company’s stock valued at $279,000 after buying an additional 506 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Dycom Industries by 0.5% during the second quarter. Arizona State Retirement System now owns 8,283 shares of the construction company’s stock valued at $4,188,000 after buying an additional 44 shares during the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries News Summary

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Zacks Research raised its fiscal 2027 EPS forecast to $16.38 from $15.18, while also making smaller increases to estimates for the third quarter of fiscal 2027 and the fourth quarter of fiscal 2027. Zacks maintained a “Hold” rating.
• Positive Sentiment: Zacks lifted its Q2 2029 EPS estimate to $5.95 from $5.86 and its Q1 2029 forecast to $4.93 from $4.79, suggesting improved longer-term earnings expectations.
• Positive Sentiment: Guggenheim reaffirmed a “Buy” rating on Dycom Industries (DY), supporting the bullish case for the telecommunications and infrastructure contractor. Guggenheim Reaffirms Buy Rating for Dycom Industries
• Neutral Sentiment: Zacks continues to project strong earnings growth, with fiscal 2028 EPS estimated at $19.04 and fiscal 2029 quarterly estimates ranging from $4.93 to $5.95. However, these are forward-looking estimates and do not represent new company guidance.
• Negative Sentiment: Zacks reduced its fiscal 2028 EPS forecast to $19.04 from $19.71. Estimates were also lowered for Q1 2028, Q2 2028, Q3 2028 and Q4 2028, indicating some moderation in expected profitability beyond fiscal 2027.
• Negative Sentiment: Wall Street Zen downgraded Dycom Industries to “Hold,” adding a more cautious signal alongside Zacks’ existing Hold rating. Wall Street Zen Downgrades Dycom Industries to Hold

Dycom Industries Company Profile

Dycom Industries, Inc is a specialty contractor that provides infrastructure construction and maintenance services for the telecommunications and utility industries. The company supports the expansion, upgrade and upkeep of communications networks, including fiber-optic, broadband, wireless and other voice and data systems.

Its services include engineering and design, aerial and underground construction, fiber and cable installation, wireless infrastructure deployment, network maintenance, utility locating, vegetation management and emergency restoration.