Zacks Research Upgrades Dycom Industries (NYSE:DY) to “Hold”

Dycom Industries (NYSE:DY) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on DY. KeyCorp raised their target price on Dycom Industries from $426.00 to $482.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Vertical Research initiated coverage on Dycom Industries in a research report on Tuesday, December 23rd. They issued a “buy” rating and a $420.00 target price on the stock. JPMorgan Chase & Co. raised their target price on Dycom Industries from $395.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Dycom Industries in a research report on Wednesday, January 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $436.00 target price on shares of Dycom Industries in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $431.64.

Dycom Industries Stock Up 3.5%

Shares of NYSE:DY traded up $12.53 during midday trading on Monday, reaching $369.32. The company’s stock had a trading volume of 100,794 shares, compared to its average volume of 398,274. The firm has a 50 day moving average of $379.60 and a 200-day moving average of $342.76. The firm has a market capitalization of $11.07 billion, a P/E ratio of 38.47, a PEG ratio of 0.81 and a beta of 1.38. The company has a quick ratio of 2.61, a current ratio of 2.74 and a debt-to-equity ratio of 1.51. Dycom Industries has a 12-month low of $139.79 and a 12-month high of $445.52.

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

Insider Buying and Selling

In related news, Director Eitan Gertel sold 3,645 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $345.62, for a total value of $1,259,784.90. Following the transaction, the director directly owned 15,997 shares of the company’s stock, valued at approximately $5,528,883.14. The trade was a 18.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DY. Jones Financial Companies Lllp lifted its holdings in Dycom Industries by 4,626.1% in the 1st quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock worth $331,000 after purchasing an additional 2,128 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Dycom Industries by 7.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock worth $10,622,000 after purchasing an additional 4,985 shares in the last quarter. Norges Bank purchased a new position in Dycom Industries in the 2nd quarter worth approximately $4,808,000. Invesco Ltd. lifted its holdings in Dycom Industries by 7.0% in the 2nd quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock worth $55,508,000 after purchasing an additional 14,891 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Dycom Industries by 73.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock worth $39,000 after purchasing an additional 68 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

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.