JPMorgan Chase & Co. Cuts Dycom Industries (NYSE:DY) Price Target to $570.00

Dycom Industries (NYSE:DY) had its target price cut by JPMorgan Chase & Co. from $650.00 to $570.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

DY has been the topic of a number of other reports. Weiss Ratings raised Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Guggenheim upped their price objective on Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Wells Fargo & Company set a $476.00 price objective on shares of Dycom Industries in a report on Thursday. Cantor Fitzgerald cut their target price on shares of Dycom Industries from $654.00 to $476.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, KeyCorp reduced 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. Eleven investment 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $514.00.

Dycom Industries Stock Down 4.2%

Shares of DY opened at $295.11 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.46 and a current ratio of 2.35. Dycom Industries has a 52 week low of $242.55 and a 52 week high of $566.47. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 0.52 and a beta of 1.54. The stock has a fifty day moving average of $418.01 and a 200-day moving average of $413.73.

Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 earnings per share for the quarter, topping analysts’ consensus estimates of $4.72 by $0.57. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company posted $3.33 EPS. Dycom Industries’s quarterly revenue was up 45.6% compared to the same quarter last year. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, sell-side analysts anticipate that Dycom Industries will post 15.44 earnings per share for the current fiscal year.

Dycom Industries declared that its board has initiated a stock repurchase program on Wednesday, August 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Dycom Industries

Institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in Dycom Industries by 265,593,055.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock worth $8,076,953,000 after acquiring an additional 23,903,375 shares during the period. California State Teachers Retirement System raised its position in shares of Dycom Industries by 51,902.4% in the 2nd quarter. California State Teachers Retirement System now owns 17,614,250 shares of the construction company’s stock worth $8,905,589,000 after acquiring an additional 17,580,378 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Dycom Industries in the 2nd quarter valued at about $1,513,523,000. Hill City Capital LP acquired a new position in shares of Dycom Industries in the 2nd quarter valued at about $510,536,693. Finally, Bank of America Corp DE bought a new stake in shares of Dycom Industries during the 2nd quarter valued at about $270,174,000. 98.33% of the stock is owned by institutional investors.

Key Headlines Impacting Dycom Industries

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

• Positive Sentiment: Dycom reported second-quarter earnings of $5.29 per share, above the $4.72 consensus estimate, while revenue reached approximately $2.01 billion versus expectations of $1.98 billion. Revenue increased 45.6% year over year, supported by communications infrastructure and digital-infrastructure demand. Dycom Industries beats Q2 forecasts as digital infrastructure demand accelerates
• Positive Sentiment: Management raised its fiscal 2027 revenue outlook, citing continued strength in fiber, data-center connectivity and Building Systems. These trends point to a multiyear opportunity from fiber-network expansion and AI-related infrastructure spending. DY Q2 Earnings Call Focuses on Fiber Demand and Higher Outlook
• Positive Sentiment: The board authorized a $150 million share-repurchase program, equivalent to as much as 1.4% of outstanding shares. The authorization may support per-share results and signals that management believes the stock is undervalued. Stock Buyback Program Declared by Dycom Industries
• Neutral Sentiment: JPMorgan, UBS, Wells Fargo, KeyCorp and Cantor Fitzgerald lowered their price targets following the earnings report but retained bullish ratings, including “overweight” or “buy.” The target cuts reflect reduced near-term assumptions rather than a broadly negative long-term view.
• Negative Sentiment: The main pressure is fiscal third-quarter EPS guidance of $4.33 to $4.79, which is below analyst expectations. Investors are also concerned about a $150 million wireless-revenue deferral, helping explain why the strong quarterly beat has not translated into positive stock performance. Why Dycom Industries Stock Is Plummeting This Week

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.