Dycom Industries (NYSE:DY – Get Free Report) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $650.00 to $570.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 84.48% from the company’s current price.
Several other equities analysts have also recently issued reports on the stock. B. Riley Financial upped their target price on shares of Dycom Industries from $485.00 to $625.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Wells Fargo & Company set a $476.00 price target on Dycom Industries in a report on Thursday. UBS Group lowered their target price on Dycom Industries from $611.00 to $525.00 and set a “buy” rating on the stock in a report on Thursday. Cantor Fitzgerald cut their price target on Dycom Industries from $654.00 to $476.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Weiss Ratings upgraded shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $514.00.
Read Our Latest Research Report on DY
Dycom Industries Stock Down 0.6%
Dycom Industries (NYSE:DY – Get Free Report) last posted its earnings results on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, topping analysts’ consensus estimates of $4.72 by $0.57. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.98 billion. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The company’s quarterly revenue was up 45.6% compared to the same quarter last year. 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. On average, research analysts expect that Dycom Industries will post 15.45 earnings per share for the current year.
Dycom Industries announced that its Board of Directors has approved 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 repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Institutional Investors Weigh In On Dycom Industries
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its stake in Dycom Industries by 265,593,055.6% in 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 last quarter. California State Teachers Retirement System boosted its position in shares of Dycom Industries by 51,902.4% during the 2nd quarter. California State Teachers Retirement System now owns 17,614,250 shares of the construction company’s stock valued at $8,905,589,000 after acquiring an additional 17,580,378 shares during the last quarter. BlackRock Inc. bought a new position in shares of Dycom Industries during the 2nd quarter valued at approximately $1,513,523,000. Hill City Capital LP purchased a new position in shares of Dycom Industries in the second quarter valued at $510,536,693,000. Finally, Bank of America Corp DE bought a new stake in Dycom Industries in the second quarter worth $270,174,000. 98.33% of the stock is owned by institutional investors.
Dycom Industries News Summary
Here are the key news stories impacting Dycom Industries this week:
- Positive Sentiment: Dycom reported record fiscal 2027 second-quarter results: adjusted EPS of $5.29 exceeded the $4.72 consensus, revenue rose 45.6% year over year to $2.006 billion, and adjusted EBITDA reached $315.5 million. Dycom fiscal 2027 second-quarter results
- Positive Sentiment: Total backlog climbed 53.2% to a record $12.242 billion, improving revenue visibility. Management cited strong fiber, data-center and Building Systems demand, with digital infrastructure and AI-related investment supporting the outlook. Dycom earnings call and fiber demand
- Positive Sentiment: Dycom raised its fiscal 2027 revenue outlook to approximately $7.48 billion-$7.66 billion and authorized a $150 million share-repurchase program, equivalent to as much as 1.4% of shares outstanding. Dycom share repurchase authorization
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.
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