Dycom Industries (NYSE:DY) Raised to Strong-Buy at Zacks Research

Dycom Industries (NYSE:DY) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts also recently commented on DY. Weiss Ratings raised shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 29th. KeyCorp increased their price objective on shares of Dycom Industries from $482.00 to $610.00 and gave the company an “overweight” rating in a report on Monday, June 1st. B. Riley Financial increased their price objective on shares of Dycom Industries from $485.00 to $625.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Guggenheim increased their price objective on shares of Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, UBS Group reissued a “buy” rating and set a $611.00 price objective on shares of Dycom Industries in a report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $554.92.

Dycom Industries Stock Down 1.0%

DY opened at $454.07 on Monday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.46 and a current ratio of 2.58. Dycom Industries has a fifty-two week low of $229.97 and a fifty-two week high of $566.47. The firm’s fifty day moving average is $420.23 and its 200 day moving average is $386.09. The stock has a market cap of $13.64 billion, a price-to-earnings ratio of 43.20, a price-to-earnings-growth ratio of 0.86 and a beta of 1.49.

Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, May 27th. The construction company reported $4.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $1.69. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. Dycom Industries’s revenue for the quarter was up 56.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. On average, sell-side analysts forecast that Dycom Industries will post 14.54 earnings per share for the current fiscal year.

Institutional Trading of Dycom Industries

Several hedge funds have recently made changes to their positions in the business. &PARTNERS raised its position in shares of Dycom Industries by 2.5% during the 4th quarter. &PARTNERS now owns 1,053 shares of the construction company’s stock valued at $356,000 after buying an additional 26 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Dycom Industries by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 203 shares of the construction company’s stock valued at $69,000 after buying an additional 30 shares in the last quarter. First Bank & Trust raised its position in shares of Dycom Industries by 1.6% during the 4th quarter. First Bank & Trust now owns 2,106 shares of the construction company’s stock valued at $712,000 after buying an additional 33 shares in the last quarter. Legacy Wealth Managment LLC ID raised 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 buying an additional 35 shares in the last quarter. Finally, Osaic Holdings Inc. raised its position in shares of Dycom Industries by 1.7% during the 4th quarter. Osaic Holdings Inc. now owns 2,062 shares of the construction company’s stock valued at $697,000 after buying an additional 35 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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.