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

Dycom Industries (NYSE:DY)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a research report issued on Thursday, Marketbeat Ratings reports. They currently have a $476.00 price target on the construction company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 71.49% from the stock’s current price.

A number of other research firms also recently weighed in on DY. Wall Street Zen downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Wedbush set a $654.00 target price on Dycom Industries in a report on Friday, May 29th. 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 research note on Thursday, August 27th. Weiss Ratings downgraded Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Finally, KeyCorp upped their price target on Dycom Industries from $423.00 to $429.00 and gave the stock an “overweight” rating in a research note on Monday. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $502.92.

Dycom Industries Trading Down 1.2%

Shares of NYSE DY traded down $3.38 during midday trading on Thursday, reaching $277.56. The company had a trading volume of 173,787 shares, compared to its average volume of 508,121. Dycom Industries has a one year low of $266.84 and a one year high of $566.47. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 1.35. The firm’s fifty day moving average price is $360.24 and its 200-day moving average price is $397.95. The stock has a market cap of $8.37 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 0.48 and a beta of 1.49.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share for the quarter, beating analysts’ consensus estimates of $4.72 by $0.57. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company posted $3.33 EPS. Dycom Industries’s revenue for the quarter was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities research analysts anticipate that Dycom Industries will post 15.94 earnings per share for the current year.

Dycom Industries declared that its board has authorized a stock repurchase plan on Wednesday, August 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, Director David Fallon purchased 700 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were acquired at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the purchase, the director directly owned 1,043 shares of the company’s stock, valued at $299,257.56. The trade was a 204.08% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dycom Industries

Several institutional investors and hedge funds have recently bought and sold shares of DY. Allworth Financial LP purchased a new position in Dycom Industries during the second quarter valued at $35,000. Nemes Rush Group LLC purchased a new position in Dycom Industries during the fourth quarter valued at $40,000. Clearstead Advisors LLC lifted its position in Dycom Industries by 212.8% during the fourth quarter. Clearstead Advisors LLC now owns 122 shares of the construction company’s stock valued at $41,000 after purchasing an additional 83 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Dycom Industries by 150.0% during the fourth quarter. Hantz Financial Services Inc. now owns 145 shares of the construction company’s stock valued at $49,000 after purchasing an additional 87 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID lifted 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 purchasing an additional 35 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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.