Dycom Industries, Inc. (NYSE:DY) Stock Has Consensus Target Price of $502.92

Dycom Industries, Inc. (NYSE:DY) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $502.92.

DY has been the topic of a number of research analyst reports. Wall Street Zen downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Guggenheim reiterated a “buy” rating and issued a $620.00 price objective on shares of Dycom Industries in a research report on Thursday, September 17th. UBS Group reissued a “buy” rating on shares of Dycom Industries in a research note on Thursday, September 17th. Zacks Research downgraded Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Wells Fargo & Company set a $476.00 price target on Dycom Industries in a research note on Thursday, August 27th.

Dycom Industries Price Performance

Shares of Dycom Industries stock opened at $266.70 on Tuesday. The firm has a market cap of $8.04 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 0.46 and a beta of 1.49. Dycom Industries has a 12-month low of $265.13 and a 12-month high of $566.47. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 1.35. The company’s fifty day simple moving average is $351.86 and its two-hundred day simple moving average is $396.06.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.72 by $0.57. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The company’s revenue for the quarter was up 45.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, equities analysts expect that Dycom Industries will post 15.94 EPS for the current year.

Dycom Industries declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 26th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling 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 purchase, the director owned 1,043 shares of the company’s stock, valued at approximately $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 the SEC website. Also, Director Carmen M. Sabater purchased 350 shares of Dycom Industries 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 transaction, the director directly owned 7,154 shares of the company’s stock, valued at $2,007,555.48. This trade 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 corporate insiders.

Institutional Trading of Dycom Industries

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in Dycom Industries by 17.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 203 shares of the construction company’s stock valued at $69,000 after purchasing an additional 30 shares in the last quarter. Legacy Wealth Managment LLC ID increased its stake in shares of 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 in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Dycom Industries by 4.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 943 shares of the construction company’s stock valued at $320,000 after purchasing an additional 36 shares during the period. Triumph Capital Management raised its position 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 period. Finally, Arizona State Retirement System lifted its stake 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 buying an additional 44 shares in the last quarter. 98.33% of the stock is owned by institutional investors.

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.