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

Dycom Industries (NYSE:DY)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Marketbeat reports. They currently have a $476.00 price target on the construction company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 69.38% from the company’s current price.

A number of other research firms also recently issued reports on DY. Zacks Research downgraded shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Wedbush set a $654.00 price target on Dycom Industries in a research report on Friday, May 29th. UBS Group reaffirmed a “buy” rating on shares of Dycom Industries in a research note on Thursday, September 17th. JPMorgan Chase & Co. cut their price objective on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. Finally, Raymond James Financial set a $375.00 price objective on 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. Based on data from MarketBeat, Dycom Industries currently has a consensus rating of “Moderate Buy” and an average target price of $502.92.

Dycom Industries Stock Down 0.4%

Shares of NYSE DY opened at $281.03 on Thursday. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. The business has a 50-day moving average of $360.24 and a 200-day moving average of $397.95. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 0.48 and a beta of 1.49. Dycom Industries has a 12 month low of $266.84 and a 12 month high of $566.47.

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 business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business posted $3.33 earnings per share. 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. Sell-side analysts expect that Dycom Industries will post 15.94 earnings per share for the current fiscal year.

Dycom Industries announced that its board has initiated a stock buyback program on Wednesday, August 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Dycom Industries news, Director David Fallon acquired 700 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was acquired at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the acquisition, the director owned 1,043 shares in the company, valued at $299,257.56. This represents a 204.08% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.22% of the company’s stock.

Institutional Trading of Dycom Industries

Several large investors have recently added to or reduced their stakes in DY. Tidal Investments LLC boosted its stake in shares of Dycom Industries by 25.2% during the 2nd quarter. Tidal Investments LLC now owns 48,093 shares of the construction company’s stock valued at $24,315,000 after purchasing an additional 9,691 shares in the last quarter. WINTON GROUP Ltd boosted its position in Dycom Industries by 173.3% during the 2nd quarter. WINTON GROUP Ltd now owns 1,640 shares of the construction company’s stock valued at $829,000 after acquiring an additional 1,040 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Dycom Industries during the 2nd quarter worth approximately $91,000. NewEdge Advisors LLC raised its position in shares of Dycom Industries by 1,124.4% in the 2nd quarter. NewEdge Advisors LLC now owns 551 shares of the construction company’s stock worth $279,000 after acquiring an additional 506 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Dycom Industries by 0.5% during the second 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 in the last quarter. Institutional investors own 98.33% of the company’s stock.

About Dycom Industries

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.