Dycom Industries (NYSE:DY) Reaches New 12-Month High – Here’s Why

Dycom Industries, Inc. (NYSE:DY)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $449.19 and last traded at $447.9810, with a volume of 85124 shares traded. The stock had previously closed at $429.47.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Dycom Industries from $395.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. UBS Group set a $475.00 price objective on shares of Dycom Industries and gave the stock a “buy” rating in a research note on Friday, March 6th. Wall Street Zen downgraded Dycom Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. Guggenheim initiated coverage on Dycom Industries in a research note on Thursday, January 22nd. They issued a “buy” rating and a $510.00 price target for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Dycom Industries in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $431.64.

Dycom Industries Trading Up 6.8%

The company has a quick ratio of 2.61, a current ratio of 2.74 and a debt-to-equity ratio of 1.51. The firm has a market cap of $13.77 billion, a PE ratio of 47.74, a P/E/G ratio of 1.00 and a beta of 1.46. The firm has a 50 day moving average of $380.17 and a 200 day moving average of $356.41.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, March 4th. The construction company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.12. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company earned $1.17 EPS. The business’s quarterly revenue was up 34.4% compared to the same quarter last year. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. Equities analysts anticipate that Dycom Industries, Inc. will post 12.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DY. Nordea Investment Management AB lifted its stake in Dycom Industries by 5,603.6% in the fourth quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company’s stock worth $139,057,000 after acquiring an additional 398,469 shares during the period. American Century Companies Inc. increased its position in Dycom Industries by 58.4% during the 3rd quarter. American Century Companies Inc. now owns 97,801 shares of the construction company’s stock valued at $28,534,000 after purchasing an additional 36,074 shares during the period. 12th Street Asset Management Company LLC raised its holdings in shares of Dycom Industries by 48.9% in the 3rd quarter. 12th Street Asset Management Company LLC now owns 67,238 shares of the construction company’s stock valued at $19,617,000 after purchasing an additional 22,077 shares in the last quarter. New York Life Investment Management LLC purchased a new stake in shares of Dycom Industries in the 3rd quarter worth approximately $830,000. Finally, Aventail Capital Group LP bought a new position in shares of Dycom Industries during the third quarter valued at approximately $5,285,000. Institutional investors 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.