Dycom Industries, Inc. (NYSE:DY) Stock Has Average Price Target of $502.92 According to Analysts

Shares of Dycom Industries, Inc. (NYSE:DY) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $502.92.

A number of equities research analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $476.00 price objective on shares of Dycom Industries in a report on Thursday. Wells Fargo & Company set a $476.00 target price on shares of Dycom Industries in a research note on Thursday, August 27th. Weiss Ratings lowered shares of Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. Wall Street Zen cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Finally, B. Riley Financial raised their price target 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.

Insiders Place Their Bets

In other news, Director David Fallon purchased 700 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were acquired at an average price of $286.92 per share, with a total value of $200,844.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carmen M. Sabater purchased 350 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The shares were purchased at an average cost of $280.62 per share, for a total transaction of $98,217.00. Following the purchase, the director directly owned 7,154 shares of the company’s stock, valued at $2,007,555.48. This trade represents a 5.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.22% of the stock is currently owned by company insiders.

Institutional Trading of Dycom Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DY. BlackRock Inc. acquired a new position in Dycom Industries during the 2nd quarter valued at about $1,513,523,000. Hill City Capital LP acquired a new stake in shares of Dycom Industries during the 2nd quarter worth approximately $510,536,693. First Trust Advisors LP grew its position in shares of Dycom Industries by 27.8% during the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock worth $270,615,000 after buying an additional 173,528 shares during the period. Bank of America Corp DE bought a new stake in shares of Dycom Industries during the second quarter worth approximately $270,174,000. Finally, Geode Capital Management LLC raised its stake in shares of Dycom Industries by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company’s stock worth $245,771,000 after buying an additional 53,993 shares during the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Trading Down 3.0%

DY stock opened at $272.64 on Tuesday. The business has a fifty day moving average price of $357.42 and a 200 day moving average price of $397.35. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.35 and a quick ratio of 2.24. Dycom Industries has a fifty-two week low of $266.84 and a fifty-two week high of $566.47. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 0.48 and a beta of 1.49.

Dycom Industries (NYSE:DY) last posted 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 analyst estimates of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The business’s revenue was up 45.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Analysts expect that Dycom Industries will post 15.94 EPS for the current fiscal year.

Dycom Industries declared that its board has initiated a stock repurchase program on Wednesday, August 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

About Dycom Industries

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.