Dycom Industries (NYSE:DY) Earns “Overweight” Rating from Cantor Fitzgerald

Dycom Industries (NYSE:DY)‘s stock had its “overweight” rating restated by analysts at Cantor Fitzgerald in a research note issued on Friday, Benzinga reports. They currently have a $476.00 price target on the construction company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 74.42% from the stock’s previous close.

A number of other brokerages also recently issued reports on DY. JPMorgan Chase & Co. decreased their price target on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. Wells Fargo & Company set a $476.00 price target on Dycom Industries in a report on Thursday, August 27th. UBS Group reissued a “buy” rating on shares of Dycom Industries in a report on Thursday, September 17th. Raymond James Financial set a $375.00 price target on Dycom Industries in a research note on Thursday, September 3rd. Finally, Guggenheim restated a “buy” rating and set a $620.00 target price on shares of Dycom Industries in a report on Thursday, September 17th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $502.92.

Dycom Industries Stock Performance

Shares of DY stock opened at $272.90 on Friday. Dycom Industries has a 12-month low of $263.36 and a 12-month high of $566.47. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 0.48 and a beta of 1.50. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. The stock has a 50 day simple moving average of $329.20 and a 200-day simple moving average of $391.64.

Dycom Industries (NYSE:DY) last announced 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. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The business’s quarterly revenue was up 45.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, equities analysts forecast that Dycom Industries will post 16.06 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 buy up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director David Fallon bought 700 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the acquisition, the director owned 1,043 shares of the company’s stock, valued at $299,257.56. This trade represents a 204.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Carmen M. Sabater acquired 350 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was bought at an average cost of $280.62 per share, for a total transaction of $98,217.00. Following the completion of the purchase, the director directly owned 7,154 shares in the company, valued at $2,007,555.48. This represents a 5.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.22% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of Dycom Industries by 50.1% during the first quarter. Royal Bank of Canada now owns 22,327 shares of the construction company’s stock worth $7,566,000 after acquiring an additional 7,452 shares during the period. Bank of America Corp DE purchased a new stake in shares of Dycom Industries in the second quarter valued at about $270,174,000. Public Employees Retirement System of Ohio purchased a new stake in Dycom Industries during the second quarter worth approximately $4,413,000. Quantinno Capital Management LP increased its holdings in shares of Dycom Industries by 192.9% in the 1st quarter. Quantinno Capital Management LP now owns 9,982 shares of the construction company’s stock worth $3,382,000 after acquiring an additional 6,574 shares during the period. Finally, Contravisory Investment Management Inc. boosted its position in shares of Dycom Industries by 39,655.6% during the 2nd quarter. Contravisory Investment Management Inc. now owns 17,890 shares of the construction company’s stock valued at $9,045,000 after purchasing an additional 17,845 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

Dycom Industries Company Profile

Dycom Industries, Inc is a provider of specialty contracting services for the telecommunications and utility industries. Through its operating subsidiaries, the company designs, builds, installs, maintains and repairs infrastructure used by telecommunications providers, utilities and government agencies.

Its services include engineering and project management, aerial and underground construction, fiber-optic and broadband network deployment, wireless infrastructure installation, network maintenance, fulfillment services and emergency restoration.