Dycom Industries (NYSE:DY) Shares Down 6.3% – What’s Next?

Dycom Industries, Inc. (NYSE:DY) fell 6.3% during mid-day trading on Friday . The stock traded as low as $335.18 and last traded at $333.3030. 108,236 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 394,078 shares. The stock had previously closed at $355.60.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DY. Guggenheim initiated coverage on shares of Dycom Industries in a report on Thursday, January 22nd. They issued a “buy” rating and a $510.00 price target on the stock. Cantor Fitzgerald started coverage on shares of Dycom Industries in a report on Tuesday, March 10th. They set an “overweight” rating and a $436.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of Dycom Industries from $395.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Wells Fargo & Company raised their price objective on shares of Dycom Industries from $315.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Finally, KeyCorp upped their target price on shares of Dycom Industries from $426.00 to $482.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $431.64.

Dycom Industries Stock Performance

The company has a quick ratio of 2.61, a current ratio of 2.74 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $9.99 billion, a P/E ratio of 34.92, a P/E/G ratio of 0.81 and a beta of 1.34. The business has a fifty day moving average price of $384.74 and a 200-day moving average price of $333.55.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, March 4th. The construction company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.12. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%. The business’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 EPS. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. On average, sell-side analysts expect that Dycom Industries, Inc. will post 7.13 EPS for the current year.

Insider Activity at Dycom Industries

In related news, Director Eitan Gertel sold 3,645 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $345.62, for a total value of $1,259,784.90. Following the transaction, the director owned 15,997 shares of the company’s stock, valued at approximately $5,528,883.14. This trade represents a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Dycom Industries

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its stake in Dycom Industries by 265,593,055.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock valued at $8,076,953,000 after purchasing an additional 23,903,375 shares during the period. Peconic Partners LLC raised its position in shares of Dycom Industries by 2.8% during the second quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company’s stock valued at $933,038,000 after buying an additional 105,586 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Dycom Industries by 21.0% in the third quarter. Millennium Management LLC now owns 1,324,938 shares of the construction company’s stock worth $386,564,000 after buying an additional 229,579 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Dycom Industries by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company’s stock worth $245,771,000 after acquiring an additional 53,993 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Dycom Industries by 3.4% during the fourth quarter. First Trust Advisors LP now owns 625,171 shares of the construction company’s stock valued at $211,245,000 after acquiring an additional 20,306 shares in the last quarter. Institutional investors own 98.33% of the company’s stock.

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.