Dycom Industries’ (DY) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Dycom Industries (NYSE:DY)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research note issued on Friday, Benzinga reports. They presently have a $476.00 price objective on the construction company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 71.60% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Zacks Research downgraded shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Guggenheim restated a “buy” rating and issued a $620.00 price objective on shares of Dycom Industries in a research note on Thursday, September 17th. Wall Street Zen downgraded shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. KeyCorp raised their price objective on shares of Dycom Industries from $423.00 to $429.00 and gave the stock an “overweight” rating in a research note on Monday, September 21st. Finally, Wells Fargo & Company set a $476.00 price objective on shares of Dycom Industries 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 currently has an average rating of “Moderate Buy” and an average price target of $502.92.

Dycom Industries Stock Down 1.8%

DY opened at $277.39 on Friday. Dycom Industries has a 1-year low of $263.36 and a 1-year high of $566.47. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 0.48 and a beta of 1.50. The business has a 50 day moving average of $329.20 and a 200-day moving average of $391.64.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.72 by $0.57. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. Dycom Industries’s quarterly revenue was up 45.6% on a year-over-year basis. During the same quarter last 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, sell-side analysts anticipate that Dycom Industries will post 16.06 earnings per share for the current year.

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

Insider Buying and Selling

In other news, Director Carmen M. Sabater acquired 350 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were acquired at an average cost of $280.62 per share, for a total transaction of $98,217.00. Following the completion of the transaction, the director owned 7,154 shares in the company, valued at approximately $2,007,555.48. This trade represents a 5.14% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David Fallon acquired 700 shares of the stock in a transaction dated Tuesday, September 1st. The shares were purchased at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the completion of the transaction, the director owned 1,043 shares of the company’s stock, valued at $299,257.56. This trade represents a 204.08% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.22% of the company’s stock.

Institutional Trading of Dycom Industries

Institutional investors have recently bought and sold shares of the stock. Allworth Financial LP acquired a new stake in Dycom Industries in the 2nd quarter valued at $35,000. Harbor Investment Advisory LLC acquired a new stake in Dycom Industries in the 2nd quarter valued at $52,000. Continuum Advisory LLC acquired a new stake in Dycom Industries in the 2nd quarter valued at $59,000. Legacy Wealth Managment LLC ID boosted its stake in Dycom Industries by 30.4% in 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, C M Bidwell & Associates Ltd. acquired a new stake in Dycom Industries in the 2nd quarter valued at $82,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

About Dycom Industries

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.