Dycom Industries (NYSE:DY) Shares Down 4.4% – What’s Next?

Dycom Industries, Inc. (NYSE:DY)’s share price traded down 4.4% during trading on Tuesday . The company traded as low as $367.06 and last traded at $364.2410. Approximately 361,889 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 465,000 shares. The stock had previously closed at $380.95.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Dycom Industries from $415.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. UBS Group reaffirmed a “buy” rating on shares of Dycom Industries in a research report on Friday, July 24th. Zacks Research lowered shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Cantor Fitzgerald raised their target price on shares of Dycom Industries from $436.00 to $654.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Finally, Guggenheim upped their price target on shares of Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $578.09.

Dycom Industries Trading Down 5.0%

The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 0.69 and a beta of 1.54. The business’s 50-day moving average price is $429.52 and its 200 day moving average price is $415.72. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.58 and a quick ratio of 2.46.

Dycom Industries (NYSE:DY) last released its quarterly 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 firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.67 billion. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The firm’s quarterly revenue was up 56.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. On average, equities analysts forecast that Dycom Industries, Inc. will post 15.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dycom Industries

A number of hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its stake 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 buying an additional 23,903,375 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Dycom Industries by 51,902.4% in the second quarter. California State Teachers Retirement System now owns 17,614,250 shares of the construction company’s stock worth $8,905,589,000 after buying an additional 17,580,378 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Dycom Industries in the second quarter worth $1,513,523,000. Hill City Capital LP acquired a new stake in Dycom Industries in the second quarter valued at $510,536,693,000. Finally, Bank of America Corp DE bought a new position in Dycom Industries during the 2nd quarter valued at $270,174,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

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.