Dycom Industries (NYSE:DY – Free Report) had its price objective raised by KeyCorp from $423.00 to $429.00 in a report released on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the construction company’s stock.
A number of other analysts have also recently weighed in on DY. Weiss Ratings cut Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. Wedbush set a $654.00 target price on Dycom Industries in a report on Friday, May 29th. B. Riley Financial upped their price target on Dycom Industries from $485.00 to $625.00 and gave the stock 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, August 27th. Finally, Zacks Research lowered shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Dycom Industries has an average rating of “Moderate Buy” and an average target price of $502.92.
Check Out Our Latest Research Report on Dycom Industries
Dycom Industries Stock Performance
Dycom Industries (NYSE:DY – Get Free Report) last posted its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the business earned $3.33 EPS. The business’s quarterly revenue was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Research analysts forecast that Dycom Industries will post 15.94 EPS for the current fiscal year.
Dycom Industries announced that its board has approved a stock repurchase program on Wednesday, August 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Insider Activity at Dycom Industries
In related news, Director David Fallon bought 700 shares of Dycom Industries stock in a transaction that occurred on Tuesday, September 1st. The shares were purchased at an average price of $286.92 per share, with a total value of $200,844.00. Following the purchase, the director owned 1,043 shares in the company, valued at $299,257.56. This represents a 204.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.22% of the stock is owned by corporate insiders.
Institutional Trading of Dycom Industries
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in Dycom Industries by 17.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 203 shares of the construction company’s stock worth $69,000 after acquiring an additional 30 shares during the period. Legacy Wealth Managment LLC ID boosted its stake in Dycom Industries by 30.4% in the first quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company’s stock valued at $51,000 after acquiring an additional 35 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Dycom Industries by 4.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 943 shares of the construction company’s stock valued at $320,000 after acquiring an additional 36 shares during the period. Triumph Capital Management grew its position in shares of Dycom Industries by 4.1% during the 2nd quarter. Triumph Capital Management now owns 996 shares of the construction company’s stock valued at $504,000 after acquiring an additional 39 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Dycom Industries by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 8,283 shares of the construction company’s stock worth $4,188,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.
About Dycom Industries
Dycom Industries, Inc is a specialty contractor that provides infrastructure construction and maintenance services for the telecommunications and utility industries. The company supports the expansion, upgrade and upkeep of communications networks, including fiber-optic, broadband, wireless and other voice and data systems.
Its services include engineering and design, aerial and underground construction, fiber and cable installation, wireless infrastructure deployment, network maintenance, utility locating, vegetation management and emergency restoration.
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