Dycom Industries (NYSE:DY) Stock Price Down 4.3% – What’s Next?

Dycom Industries, Inc. (NYSE:DY) traded down 4.3% during trading on Wednesday. The company traded as low as $239.16 and last traded at $241.1650. Approximately 70,570 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 516,689 shares. The stock had previously closed at $252.00.

Wall Street Analyst Weigh In

DY has been the subject of several recent analyst reports. Guggenheim restated a “buy” rating and issued a $620.00 price target on shares of Dycom Industries in a research note on Thursday, September 17th. Zacks Research cut shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $476.00 target price on shares of Dycom Industries in a report on Friday, October 9th. Wall Street Zen raised shares of Dycom Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Finally, Raymond James Financial set a $375.00 target price on shares of Dycom Industries in a research report on Thursday, September 3rd. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Dycom Industries has a consensus rating of “Moderate Buy” and a consensus target price of $502.92.

Dycom Industries Stock Down 4.8%

The firm has a market capitalization of $7.23 billion, a PE ratio of 21.83, a PEG ratio of 0.43 and a beta of 1.50. The business’s 50 day simple moving average is $305.84 and its 200 day simple moving average is $387.00. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $0.57. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the company earned $3.33 EPS. The business’s 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 forecast that Dycom Industries, Inc. will post 16.06 earnings per share for the current year.

Dycom Industries announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 26th that authorizes the company to buy back $150.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 1.4% of its shares through open market purchases. Stock buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at Dycom Industries

In related news, Director David Fallon bought 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, with a total value of $200,844.00. Following the transaction, the director owned 1,043 shares in the company, valued at $299,257.56. This trade represents a 204.08% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carmen M. Sabater purchased 350 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were bought at an average price of $280.62 per share, for a total transaction of $98,217.00. Following the acquisition, the director directly owned 7,154 shares in the company, valued at $2,007,555.48. This trade represents a 5.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DY. Legacy Wealth Managment LLC ID grew its holdings in Dycom Industries by 30.4% in the first quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company’s stock worth $51,000 after purchasing an additional 35 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of Dycom Industries by 4.0% during the first quarter. Fifth Third Wealth Advisors LLC now owns 943 shares of the construction company’s stock worth $320,000 after purchasing an additional 36 shares in the last quarter. Triumph Capital Management lifted its holdings in shares of Dycom Industries by 4.1% during the 2nd quarter. Triumph Capital Management now owns 996 shares of the construction company’s stock valued at $504,000 after purchasing an additional 39 shares during the last quarter. Arizona State Retirement System lifted its holdings 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 valued at $4,188,000 after purchasing an additional 44 shares during the last quarter. Finally, Somerset Trust Co boosted its position in shares of Dycom Industries by 0.7% in the 2nd quarter. Somerset Trust Co now owns 6,285 shares of the construction company’s stock worth $3,178,000 after purchasing an additional 45 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Company Profile

Dycom Industries, Inc is a specialty contracting company that provides infrastructure services to telecommunications providers, utilities, cable and broadband companies, and government agencies. Headquartered in Palm Beach Gardens, Florida, the company operates primarily across the United States.

Its services include engineering, construction, installation, maintenance, and repair of telecommunications infrastructure. Dycom supports the deployment of fiber-optic networks, broadband systems, wireless networks, underground and aerial lines, and other communications facilities.