Dycom Industries (NYSE:DY) Price Target Lowered to $550.00 at Wells Fargo & Company

Dycom Industries (NYSE:DY) had its price target cut by stock analysts at Wells Fargo & Company from $650.00 to $550.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 79.14% from the stock’s current price.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price objective on Dycom Industries from $415.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Guggenheim boosted their target price on shares of Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. KeyCorp lowered their target price on shares of Dycom Industries from $610.00 to $423.00 and set an “overweight” rating on the stock in a report on Thursday. B. Riley Financial increased their target price on shares of Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Zacks Research downgraded shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $535.82.

Dycom Industries Trading Down 1.2%

DY stock opened at $307.03 on Thursday. Dycom Industries has a 1-year low of $242.55 and a 1-year high of $566.47. The firm has a market cap of $9.22 billion, a P/E ratio of 29.12, a P/E/G ratio of 0.62 and a beta of 1.54. The business’s 50 day moving average is $424.20 and its 200-day moving average is $415.22. The company has a current ratio of 2.58, a quick ratio of 2.46 and a debt-to-equity ratio of 1.48.

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

Dycom Industries announced that its board has authorized a share buyback plan on Wednesday, August 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to repurchase up to 1.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kemnay Advisory Services Inc. bought a new position in shares of Dycom Industries in the fourth quarter valued at about $30,000. Allworth Financial LP bought a new stake in Dycom Industries during the 2nd quarter worth about $35,000. Acumen Wealth Advisors LLC acquired a new stake in Dycom Industries in the 4th quarter valued at about $35,000. Legacy Wealth Managment LLC ID acquired a new stake in Dycom Industries in the 4th quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Dycom Industries by 73.1% in the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock worth $39,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries News Roundup

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 the $4.72 consensus, and adjusted EBITDA was $315.5 million versus expectations of about $297 million. Dycom Industries fiscal second-quarter results
• Positive Sentiment: Total backlog increased 53.2% to a record $12.242 billion, providing substantial revenue visibility. Strong fiber, broadband and data-center infrastructure demand also supports the longer-term growth outlook and the AI infrastructure investment theme. Why Dycom’s earnings beat points to an AI infrastructure boom
• Positive Sentiment: Management raised fiscal 2027 revenue guidance to approximately $7.5 billion-$7.7 billion and authorized a new $150 million share-repurchase program, equivalent to as much as 1.4% of outstanding shares. The buyback may signal that the board views the shares as undervalued. Dycom $150 million repurchase authorization
• Neutral Sentiment: KeyCorp and Cantor Fitzgerald maintained “overweight” ratings, but reduced their price targets to $423 and $476, respectively. The targets remain above the current share price, although the reductions reflect increased caution following the earnings release. Analyst price-target updates
• Negative Sentiment: Fiscal Q3 adjusted EPS guidance of $4.33-$4.79 came in below the $4.68 consensus midpoint comparison is complicated by the broad range, but the low end and expected wireless-work deferrals raised concerns. About $150 million of wireless projects are shifting into fiscal 2028, weighing on near-term estimates. Dycom wireless work deferrals

Dycom Industries Company Profile

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.