Dycom Industries (NYSE:DY) Stock Rating Reaffirmed as Overweight by Cantor Fitzgerald

Dycom Industries (NYSE:DY)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research report issued on Friday, Benzinga reports. They currently have a $476.00 price objective on the construction company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 78.38% from the company’s current price.

Several other equities analysts have also issued reports on DY. KeyCorp boosted their price target on Dycom Industries from $423.00 to $429.00 and gave the company an “overweight” rating in a research note on Monday, September 21st. Zacks Research cut Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Wells Fargo & Company set a $476.00 price target on Dycom Industries in a report on Thursday, August 27th. JPMorgan Chase & Co. cut their price target on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, August 27th. Finally, Weiss Ratings lowered shares of Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Dycom Industries currently has an average rating of “Moderate Buy” and a consensus price target of $502.92.

Dycom Industries Trading Down 0.1%

Shares of NYSE DY traded down $0.14 during midday trading on Friday, reaching $266.85. The stock had a trading volume of 140,273 shares, compared to its average volume of 512,169. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 0.46 and a beta of 1.50. Dycom Industries has a twelve month low of $262.17 and a twelve month high of $566.47. 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 company’s 50 day moving average price is $323.61 and its 200 day moving average price is $390.49.

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, topping analysts’ consensus estimates of $4.72 by $0.57. The firm 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%. The company’s revenue for the quarter was up 45.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, sell-side analysts expect that Dycom Industries will post 16.06 EPS for the current year.

Dycom Industries declared that its board has authorized a share repurchase plan on Wednesday, August 26th that allows the company to buy back $150.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 1.4% of its shares through open market purchases. Share repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Dycom Industries news, Director Carmen M. Sabater acquired 350 shares of the company’s stock in a transaction on 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 purchase, the director owned 7,154 shares of the company’s stock, valued at approximately $2,007,555.48. This represents a 5.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Fallon bought 700 shares of the stock in a transaction dated Tuesday, September 1st. The stock was purchased at an average price of $286.92 per share, with a total value of $200,844.00. Following the acquisition, the director 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. Additional details regarding this purchase are available in the official SEC disclosure. 1.22% of the stock is currently owned by company insiders.

Institutional Trading of Dycom Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Dycom Industries in the second quarter worth about $1,513,523,000. Hill City Capital LP purchased a new position in shares of Dycom Industries in the second quarter worth about $510,536,693. First Trust Advisors LP increased its stake in shares of Dycom Industries by 27.8% in the first quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock worth $270,615,000 after purchasing an additional 173,528 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Dycom Industries in the second quarter worth about $270,174,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Dycom Industries by 19.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 396,240 shares of the construction company’s stock worth $134,254,000 after purchasing an additional 65,724 shares in 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 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.