Dycom Industries (NYSE:DY) Research Coverage Started at Oppenheimer

Oppenheimer began coverage on shares of Dycom Industries (NYSE:DY) in a research note issued to investors on Tuesday, Marketbeat reports. The firm issued a market perform rating on the construction company’s stock.

DY has been the subject of several other research reports. Wall Street Zen upgraded Dycom Industries from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Wells Fargo & Company set a $476.00 price target on Dycom Industries in a report on Thursday, August 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $476.00 price objective on shares of Dycom Industries in a research report on Friday, October 9th. Zacks Research downgraded Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Raymond James Financial set a $375.00 price objective on Dycom Industries in a report on Thursday, September 3rd. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Dycom Industries has a consensus rating of “Moderate Buy” and an average price target of $502.92.

Dycom Industries Stock Up 2.5%

Shares of NYSE:DY opened at $239.85 on Tuesday. Dycom Industries has a 52-week low of $215.28 and a 52-week high of $566.47. The firm has a market capitalization of $7.23 billion, a P/E ratio of 15.22, a P/E/G ratio of 0.40 and a beta of 1.50. The stock has a 50 day moving average price of $282.43 and a 200-day moving average price of $378.99. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.72 by $0.57. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. Dycom Industries’s revenue was up 45.6% on a year-over-year basis. During the same period last year, the company posted $3.33 EPS. 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 16.06 EPS for the current fiscal year.

Dycom Industries announced that its board has initiated a stock buyback program on Wednesday, August 26th that permits the company to repurchase $150 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Carmen Sabater acquired 350 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The shares were purchased at an average cost of $280.62 per share, with a total value of $98,217.00. Following the completion of the acquisition, the director directly owned 7,154 shares of the company’s stock, valued at $2,007,555.48. This represents a 5.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Fallon acquired 700 shares of the business’s 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 approximately $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. 1.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DY. One Way Holdings LLC bought a new position in shares of Dycom Industries in the 3rd quarter worth about $4,405,000. MeadowBrook Investment Advisors LLC boosted its holdings in shares of Dycom Industries by 37.0% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 1,243 shares of the construction company’s stock valued at $334,000 after buying an additional 336 shares during the period. State of Wyoming boosted its holdings in shares of Dycom Industries by 222.6% in the 3rd quarter. State of Wyoming now owns 1,171 shares of the construction company’s stock valued at $315,000 after buying an additional 808 shares during the period. Kingswood Wealth Advisors LLC grew its position in shares of Dycom Industries by 5.1% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 1,596 shares of the construction company’s stock valued at $429,000 after buying an additional 77 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Dycom Industries by 16.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,270 shares of the construction company’s stock valued at $342,000 after buying an additional 180 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 is a specialty contracting company that provides infrastructure services to telecommunications providers, utilities, cable and broadband companies, and government agencies. Headquartered in Palm Beach Gardens, Florida, the company operates primarily across the United States.

Its services include engineering, construction, installation, maintenance, and repair of telecommunications infrastructure. Dycom supports the deployment of fiber-optic networks, broadband systems, wireless networks, underground and aerial lines, and other communications facilities.