Dycom Industries (NYSE:DY) Stock Keeps Overweight Rating at Cantor Fitzgerald

Dycom Industries (NYSE:DY)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a research note issued to investors on Thursday, MarketBeat.com reports. They currently have a $476.00 price objective on the construction company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 76.60% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. B. Riley Financial increased their price objective on shares of Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Zacks Research lowered Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. KeyCorp increased their price target on Dycom Industries from $423.00 to $429.00 and gave the company an “overweight” rating in a research report on Monday, September 21st. Raymond James Financial set a $375.00 price target on Dycom Industries in a research note on Thursday, September 3rd. Finally, UBS Group reiterated a “buy” rating on shares of Dycom Industries in a research note on Thursday, September 17th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $502.92.

Dycom Industries Stock Up 0.2%

Shares of DY traded up $0.49 during mid-day trading on Thursday, hitting $269.53. 724,847 shares of the company’s stock were exchanged, compared to its average volume of 512,671. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.35 and a quick ratio of 2.24. Dycom Industries has a 52 week low of $265.09 and a 52 week high of $566.47. The company has a market cap of $8.13 billion, a PE ratio of 24.53, a P/E/G ratio of 0.46 and a beta of 1.49. The company has a 50-day simple moving average of $348.77 and a 200 day simple moving average of $395.36.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, topping 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 analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm posted $3.33 earnings per share. The firm’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, research analysts forecast that Dycom Industries will post 15.94 earnings per share for the current fiscal year.

Dycom Industries declared that its Board of Directors has approved a stock buyback program on Wednesday, August 26th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Dycom Industries news, Director David Fallon purchased 700 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was bought at an average cost of $286.92 per share, for a total transaction of $200,844.00. Following the completion of the transaction, the director owned 1,043 shares in the company, valued at approximately $299,257.56. This represents a 204.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Carmen Sabater purchased 350 shares of Dycom Industries stock in a transaction that occurred on Wednesday, September 23rd. The shares were bought at an average cost of $280.62 per share, for a total transaction of $98,217.00. Following the transaction, the director directly owned 7,154 shares of the company’s stock, valued at $2,007,555.48. This represents a 5.14% 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 insiders.

Hedge Funds Weigh In On Dycom Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP bought a new stake in shares of Dycom Industries in the 2nd quarter valued at $35,000. Nemes Rush Group LLC bought a new position in shares of Dycom Industries in the 4th quarter worth about $40,000. Clearstead Advisors LLC lifted its stake in shares of Dycom Industries by 212.8% in the 4th quarter. Clearstead Advisors LLC now owns 122 shares of the construction company’s stock valued at $41,000 after purchasing an additional 83 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Dycom Industries by 150.0% in the 4th 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 during the period. Finally, Legacy Wealth Managment LLC ID boosted its position in shares of Dycom Industries by 30.4% during the 1st 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 owned by institutional investors and hedge funds.

Dycom Industries Company Profile

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.