Dycom Industries (NYSE:DY) Stock Rating Reaffirmed as “Overweight” by Cantor Fitzgerald

Dycom Industries (NYSE:DY)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research note issued on Friday, Benzinga reports. They presently have a $476.00 price target on the construction company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 75.94% from the company’s current price.

A number of other equities research analysts have also weighed in on DY. Wall Street Zen lowered Dycom Industries from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. Raymond James Financial set a $375.00 price objective on Dycom Industries in a research report on Thursday, September 3rd. JPMorgan Chase & Co. cut their price objective on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, August 27th. Wells Fargo & Company set a $476.00 price objective on Dycom Industries in a research report on Thursday, August 27th. Finally, UBS Group reiterated a “buy” rating on shares of Dycom Industries in a research report on Thursday, September 17th. Ten analysts have rated the stock with a Buy rating and two have 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 $502.92.

Dycom Industries Trading Down 2.4%

DY traded down $6.67 on Friday, hitting $270.54. 143,557 shares of the company were exchanged, compared to its average volume of 511,394. The firm has a fifty day simple moving average of $329.20 and a two-hundred day simple moving average of $391.64. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35. Dycom Industries has a 12 month low of $263.36 and a 12 month high of $566.47. The stock has a market capitalization of $8.16 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 0.48 and a beta of 1.50.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results 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. 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 period last year, the company earned $3.33 EPS. Dycom Industries’s revenue for the quarter 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. Sell-side analysts expect that Dycom Industries will post 16.06 earnings per share for the current year.

Dycom Industries announced that its board has authorized a stock buyback plan on Wednesday, August 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Dycom Industries

In related news, Director Carmen M. Sabater acquired 350 shares of the stock in a transaction on Wednesday, September 23rd. The stock was acquired at an average price of $280.62 per share, for a total transaction of $98,217.00. Following the completion of the purchase, the director owned 7,154 shares of the company’s stock, valued at $2,007,555.48. This represents a 5.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Fallon acquired 700 shares of the stock in a transaction on Tuesday, September 1st. The shares were bought at an average price of $286.92 per share, with a total value of $200,844.00. Following the purchase, the director directly owned 1,043 shares of the company’s stock, valued at $299,257.56. The trade was a 204.08% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP purchased a new position in Dycom Industries during the second quarter valued at $35,000. Harbor Investment Advisory LLC purchased a new position in Dycom Industries during the second quarter valued at $52,000. Continuum Advisory LLC purchased a new position in Dycom Industries during the second quarter valued at $59,000. Legacy Wealth Managment LLC ID raised its stake in Dycom Industries by 30.4% during the first quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company’s stock valued at $51,000 after buying an additional 35 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Dycom Industries in the second quarter worth $82,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

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.