Dycom Industries’ (DY) Overweight Rating Reiterated at Cantor Fitzgerald

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

DY has been the topic of a number of other reports. Wells Fargo & Company set a $476.00 price target on shares of Dycom Industries in a research report on Thursday, August 27th. UBS Group reissued a “buy” rating on shares of Dycom Industries in a research note on Thursday, September 17th. JPMorgan Chase & Co. reduced their target price on shares of Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, August 27th. KeyCorp upped their price target on shares of Dycom Industries from $423.00 to $429.00 and gave the stock an “overweight” rating in a research report on Monday, September 21st. Finally, Raymond James Financial set a $375.00 price objective on Dycom Industries in a research report on Thursday, September 3rd. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Dycom Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $502.92.

Dycom Industries Price Performance

DY stock opened at $277.39 on Friday. The company has a market cap of $8.37 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 0.48 and a beta of 1.50. 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 50-day moving average price of $329.20 and a two-hundred day moving average price of $391.64. Dycom Industries has a 12-month low of $263.36 and a 12-month high of $566.47.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, topping analysts’ consensus estimates of $4.72 by $0.57. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The company’s quarterly revenue was up 45.6% compared to the same quarter last year. During the same period last year, the business posted $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, research analysts predict that Dycom Industries will post 16.06 EPS 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 reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Carmen M. Sabater purchased 350 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was acquired at an average cost of $280.62 per share, with a total value of $98,217.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Fallon purchased 700 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were purchased 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 in the company, valued at $299,257.56. This trade represents a 204.08% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.22% of the company’s stock.

Hedge Funds Weigh In On Dycom Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venture Visionary Partners LLC purchased a new stake in shares of Dycom Industries during the third quarter worth about $838,000. Central Pacific Bank Trust Division purchased a new position in Dycom Industries in the third quarter valued at about $67,000. Versant Capital Management Inc boosted its holdings in Dycom Industries by 41.8% in the third quarter. Versant Capital Management Inc now owns 261 shares of the construction company’s stock valued at $70,000 after purchasing an additional 77 shares during the last quarter. Tidal Investments LLC grew 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. Finally, WINTON GROUP Ltd grew its stake in Dycom Industries by 173.3% during the 2nd quarter. WINTON GROUP Ltd now owns 1,640 shares of the construction company’s stock valued at $829,000 after purchasing an additional 1,040 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

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.