Dycom Industries’ (DY) Overweight Rating Reaffirmed at Cantor Fitzgerald

Dycom Industries (NYSE:DY)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research report issued on Thursday, Benzinga reports. They presently have a $476.00 price target on the construction company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 69.38% from the stock’s previous close.

Several other brokerages have also recently issued reports on DY. UBS Group reiterated a “buy” rating on shares of Dycom Industries in a research report on Thursday, September 17th. Wells Fargo & Company set a $476.00 price objective on Dycom Industries in a research report on Thursday, August 27th. Weiss Ratings lowered Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. Guggenheim restated a “buy” rating and set a $620.00 price target on shares of Dycom Industries in a research report on Thursday, September 17th. Finally, KeyCorp increased their price objective on Dycom Industries from $423.00 to $429.00 and gave the stock an “overweight” rating in a report on Monday. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $502.92.

Dycom Industries Price Performance

DY opened at $281.03 on Thursday. 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 stock has a market capitalization of $8.48 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 0.48 and a beta of 1.49. The stock’s 50 day moving average price is $360.24 and its 200-day moving average price is $397.95. Dycom Industries has a 52-week low of $266.84 and a 52-week high of $566.47.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data 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. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm earned $3.33 EPS. The company’s quarterly revenue was up 45.6% compared to the same quarter last year. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities research analysts predict that Dycom Industries will post 15.94 EPS for the current year.

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

Insider Buying and Selling

In other news, Director David Fallon purchased 700 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were purchased at an average price 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 in the company, valued at $299,257.56. This represents a 204.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in shares of Dycom Industries by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 203 shares of the construction company’s stock worth $69,000 after purchasing an additional 30 shares during the period. Legacy Wealth Managment LLC ID grew its position in Dycom Industries by 30.4% during the first quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company’s stock valued at $51,000 after buying an additional 35 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in Dycom Industries by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 943 shares of the construction company’s stock valued at $320,000 after buying an additional 36 shares in the last quarter. Triumph Capital Management raised its position in shares of Dycom Industries by 4.1% in the second quarter. Triumph Capital Management now owns 996 shares of the construction company’s stock worth $504,000 after acquiring an additional 39 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Dycom Industries by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 8,283 shares of the construction company’s stock worth $4,188,000 after acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Dycom Industries Company Profile

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.