KeyCorp Lowers Dycom Industries (NYSE:DY) Price Target to $423.00

Dycom Industries (NYSE:DY) had its price target lowered by KeyCorp from $610.00 to $423.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. KeyCorp’s target price suggests a potential upside of 35.60% from the company’s previous close.

Several other research firms have also recently weighed in on DY. Zacks Research cut shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on Dycom Industries from $415.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Cantor Fitzgerald cut their price target on Dycom Industries from $654.00 to $476.00 and set an “overweight” rating for the company in a report on Thursday. Weiss Ratings upgraded Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Finally, B. Riley Financial boosted their price objective on Dycom Industries from $485.00 to $625.00 and gave the company 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $544.91.

Dycom Industries Stock Down 11.3%

Shares of DY stock opened at $311.94 on Thursday. Dycom Industries has a 12 month low of $242.55 and a 12 month high of $566.47. The company has a quick ratio of 2.46, a current ratio of 2.58 and a debt-to-equity ratio of 1.48. The firm has a market cap of $9.37 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 0.62 and a beta of 1.54. The stock has a 50 day moving average of $424.20 and a 200-day moving average of $415.22.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.72 by $0.57. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.98 billion. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. Dycom Industries’s quarterly revenue was up 45.6% on a year-over-year basis. During the same quarter last year, the company posted $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities analysts predict that Dycom Industries will post 15.45 EPS for the current year.

Dycom Industries declared that its Board of Directors has approved a share repurchase program on Wednesday, August 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Dycom Industries

Several institutional investors have recently bought and sold shares of DY. Allworth Financial LP acquired a new position in Dycom Industries during the second quarter worth $35,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Dycom Industries in the 4th quarter valued at $30,000. Harbor Investment Advisory LLC acquired a new stake in shares of Dycom Industries in the 2nd quarter valued at $52,000. Acumen Wealth Advisors LLC bought a new stake in shares of Dycom Industries in the 4th quarter worth about $35,000. Finally, Legacy Wealth Managment LLC ID acquired a new stake in shares of Dycom Industries during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Trending Headlines about Dycom Industries

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Dycom reported record fiscal Q2 results: contract revenue rose 45.6% year over year to $2.006 billion, adjusted EPS reached $5.29 versus a roughly $4.62–$4.72 consensus, and adjusted EBITDA was $315.5 million versus expectations near $297 million. Dycom fiscal 2027 second-quarter results
• Positive Sentiment: Total backlog increased 53.2% to a record $12.242 billion, improving revenue visibility. Management cited accelerating fiber, broadband, data-center and other digital-infrastructure demand, with analysts linking the growth opportunity to expanding AI infrastructure investment. Why Dycom’s earnings beat points to an AI infrastructure boom
• Positive Sentiment: The board authorized a new $150 million share-repurchase program, allowing Dycom to buy back up to approximately 1.4% of outstanding shares. The authorization may signal management’s view that the stock is undervalued and could provide support for earnings per share. Dycom $150 million stock repurchase program
• Positive Sentiment: Dycom completed its acquisition of National Technology Integrators, adding to its digital-infrastructure capabilities and potentially strengthening exposure to data-center and communications projects.
• Neutral Sentiment: Fiscal 2027 revenue guidance was raised or established at approximately $7.48 billion to $7.66 billion, broadly around the $7.6 billion analyst consensus, suggesting strong growth but limited upside relative to elevated expectations.
• Negative Sentiment: Third-quarter adjusted EPS guidance of $4.33 to $4.79 has a midpoint of $4.56, below the $4.68 consensus estimate. Investors viewed the cautious outlook as more important than the Q2 beat. Why Dycom Industries stock is sinking
• Negative Sentiment: Approximately $150 million of wireless work was deferred from fiscal 2027 into fiscal 2028, raising concerns about the timing of project execution and near-term revenue and earnings growth. Dycom wireless work deferred into fiscal 2028

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.