Dycom Industries (NYSE:DY) Hits New 12-Month High – Still a Buy?

Dycom Industries, Inc. (NYSE:DY)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $356.38 and last traded at $355.7760, with a volume of 21988 shares changing hands. The stock had previously closed at $348.44.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DY. JPMorgan Chase & Co. raised their price objective on Dycom Industries from $275.00 to $370.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Wall Street Zen upgraded shares of Dycom Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday. KeyCorp lifted their price target on shares of Dycom Industries from $320.00 to $392.00 and gave the company an “overweight” rating in a report on Friday, November 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Dycom Industries in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Dycom Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $371.25.

Dycom Industries Price Performance

The company has a quick ratio of 2.96, a current ratio of 3.16 and a debt-to-equity ratio of 0.74. The firm’s fifty day moving average price is $291.71 and its 200 day moving average price is $262.12. The stock has a market cap of $10.35 billion, a PE ratio of 40.02, a P/E/G ratio of 1.38 and a beta of 1.23.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, November 19th. The construction company reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.48. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.41 billion. Dycom Industries had a net margin of 5.23% and a return on equity of 21.17%. Dycom Industries’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 EPS. Dycom Industries has set its Q4 2026 guidance at 1.620-1.970 EPS. FY 2026 guidance at EPS. As a group, equities analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Dycom Industries

A number of hedge funds have recently made changes to their positions in the company. AlTi Global Inc. grew its holdings in shares of Dycom Industries by 20.7% in the second quarter. AlTi Global Inc. now owns 13,097 shares of the construction company’s stock valued at $3,201,000 after purchasing an additional 2,243 shares in the last quarter. Entropy Technologies LP raised its stake in Dycom Industries by 378.1% during the second quarter. Entropy Technologies LP now owns 7,826 shares of the construction company’s stock valued at $1,913,000 after purchasing an additional 6,189 shares in the last quarter. Creative Planning lifted its position in Dycom Industries by 88.7% during the second quarter. Creative Planning now owns 12,195 shares of the construction company’s stock valued at $2,980,000 after purchasing an additional 5,731 shares during the last quarter. Greenleaf Trust purchased a new position in shares of Dycom Industries in the 2nd quarter worth $246,000. Finally, Cetera Investment Advisers bought a new stake in shares of Dycom Industries in the 1st quarter worth about $387,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.