Dycom Industries (NYSE:DY) Given New $650.00 Price Target at Wells Fargo & Company

Dycom Industries (NYSE:DY) had its price objective raised by analysts at Wells Fargo & Company from $500.00 to $650.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 23.14% from the company’s previous close.

Several other research analysts have also commented on DY. Bank of America raised their price target on shares of Dycom Industries from $365.00 to $475.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. B. Riley Financial increased their price target on Dycom Industries from $420.00 to $485.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Weiss Ratings downgraded shares of Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Wall Street Zen lowered Dycom Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Zacks Research raised shares of Dycom Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Dycom Industries currently has a consensus rating of “Buy” and a consensus price target of $480.73.

Dycom Industries Trading Down 0.2%

Dycom Industries stock traded down $1.27 during trading on Thursday, hitting $527.86. The company’s stock had a trading volume of 181,982 shares, compared to its average volume of 416,864. Dycom Industries has a 1-year low of $225.34 and a 1-year high of $566.47. The stock’s fifty day moving average is $395.39 and its 200 day moving average is $373.96. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.61 and a current ratio of 2.74. The stock has a market capitalization of $15.85 billion, a price-to-earnings ratio of 55.55, a P/E/G ratio of 0.97 and a beta of 1.46.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, May 27th. The construction company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $1.69. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%. The company’s quarterly revenue was up 56.1% on a year-over-year basis. During the same period last year, the company earned $2.09 earnings per share. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. As a group, equities research analysts predict that Dycom Industries will post 12.89 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Dycom Industries by 265,593,055.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock valued at $8,076,953,000 after purchasing an additional 23,903,375 shares in the last quarter. Peconic Partners LLC lifted its position in shares of Dycom Industries by 2.8% in the 2nd quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company’s stock valued at $933,038,000 after acquiring an additional 105,586 shares in the last quarter. Millennium Management LLC boosted its position in shares of Dycom Industries by 21.0% in the third quarter. Millennium Management LLC now owns 1,324,938 shares of the construction company’s stock worth $386,564,000 after buying an additional 229,579 shares during the period. First Trust Advisors LP grew its stake in Dycom Industries by 27.8% during the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock valued at $270,615,000 after acquiring an additional 173,528 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Dycom Industries by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company’s stock valued at $245,771,000 after purchasing an additional 53,993 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries News Summary

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Dycom reported record first-quarter contract revenue of $1.965 billion, up 56.1% year over year, and adjusted EPS of $4.42, far above Wall Street expectations of $2.73. Article Title
• Positive Sentiment: The company lifted its fiscal 2027 outlook, with full-year contract revenue guidance now at $7.38 billion to $7.65 billion and Q2 revenue guidance also above consensus, signaling continued momentum. Article Title
• Positive Sentiment: Backlog reached a record $11.906 billion, up 46.5%, which points to strong future revenue visibility and sustained demand from telecom/network buildouts. Article Title
• Positive Sentiment: Dycom also announced a deal to acquire National Technology Integrators, expanding its exposure to the high-growth data center infrastructure market, which investors viewed favorably. Article Title
• Neutral Sentiment: The company is also participating in upcoming institutional investor events, which is a routine investor-relations update and not a major standalone catalyst. Article Title

About Dycom Industries

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.