Dycom Industries, Inc. (NYSE:DY – Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $214.37 and last traded at $214.1780, with a volume of 222,977 shares changing hands. The stock had previously closed at $228.21.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on DY. UBS Group reiterated a “buy” rating on shares of Dycom Industries in a report on Thursday, September 17th. JPMorgan Chase & Co. dropped their price objective on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. Guggenheim restated a “buy” rating and set a $620.00 price objective on shares of Dycom Industries in a report on Thursday, September 17th. Raymond James Financial set a $375.00 target price on Dycom Industries in a research report on Thursday, September 3rd. Finally, Wells Fargo & Company set a $476.00 target price on Dycom Industries in a report on Thursday, August 27th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $502.92.
Check Out Our Latest Analysis on Dycom Industries
Dycom Industries Stock Down 6.9%
The company has a debt-to-equity ratio of 1.35, a current ratio of 2.35 and a quick ratio of 2.24. The stock’s fifty day simple moving average is $272.42 and its 200-day simple moving average is $377.09. The stock has a market cap of $6.41 billion, a P/E ratio of 19.40, a PEG ratio of 0.38 and a beta of 1.53.
Dycom Industries (NYSE:DY – Get Free Report) last issued its quarterly earnings data 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. 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 25.30% and a net margin of 4.79%. The business’s revenue was up 45.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.33 earnings per share. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, research analysts anticipate that Dycom Industries, Inc. will post 15.98 earnings per share for the current year.
Dycom Industries declared that its board has authorized a stock repurchase program on Wednesday, August 26th that permits the company to buy back $150 million in shares. This repurchase authorization permits the construction company to reacquire up to 1.4% of its shares through open market purchases. Share repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
Insider Activity at Dycom Industries
In other news, Director Carmen M. Sabater bought 350 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were bought at an average cost of $280.62 per share, with a total value of $98,217.00. Following the purchase, the director directly owned 7,154 shares in the company, valued at $2,007,555.48. This trade represents a 5.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Fallon bought 700 shares of Dycom Industries stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average price of $286.92 per share, with a total value of $200,844.00. Following the acquisition, the director directly owned 1,043 shares of the company’s stock, valued at approximately $299,257.56. This represents a 204.08% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.22% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Root Financial Partners LLC acquired a new position in shares of Dycom Industries in the 3rd quarter valued at about $31,000. Allworth Financial LP acquired a new stake in shares of Dycom Industries during the second quarter worth approximately $35,000. Covestor Ltd boosted its holdings in shares of Dycom Industries by 58.6% during the third quarter. Covestor Ltd now owns 138 shares of the construction company’s stock worth $37,000 after purchasing an additional 51 shares during the period. Legacy Wealth Managment LLC ID grew its position 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 purchasing an additional 35 shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in Dycom Industries during the second quarter valued at approximately $52,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.
About Dycom Industries
Dycom Industries, Inc is a specialty contracting company that provides infrastructure services to telecommunications providers, utilities, cable and broadband companies, and government agencies. Headquartered in Palm Beach Gardens, Florida, the company operates primarily across the United States.
Its services include engineering, construction, installation, maintenance, and repair of telecommunications infrastructure. Dycom supports the deployment of fiber-optic networks, broadband systems, wireless networks, underground and aerial lines, and other communications facilities.
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