Dycom Industries (NYSE:DY) Price Target Cut to $423.00 by Analysts at KeyCorp

Dycom Industries (NYSE:DY) had its target price decreased by KeyCorp from $610.00 to $423.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price objective suggests a potential upside of 35.60% from the company’s current price.

Several other equities analysts have also recently issued reports on DY. Zacks Research cut Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Guggenheim raised their price target on Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen lowered shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings upgraded shares of Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 13th. Finally, Wedbush set a $654.00 price target on shares of Dycom Industries in a research report on Friday, May 29th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $544.91.

Dycom Industries Price Performance

NYSE:DY opened at $311.94 on Thursday. The company has a market cap of $9.37 billion, a P/E ratio of 29.68, a P/E/G ratio of 0.62 and a beta of 1.54. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.46 and a current ratio of 2.58. Dycom Industries has a 52-week low of $242.55 and a 52-week high of $566.47. The stock’s 50-day simple moving average is $424.20 and its 200 day simple moving average is $415.22.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share for the quarter, topping the consensus estimate of $4.72 by $0.57. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the business posted $3.33 earnings per share. The firm’s revenue for the quarter was up 45.6% compared to the same quarter last year. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, sell-side analysts forecast that Dycom Industries will post 15.45 EPS for the current fiscal year.

Dycom Industries declared that its board has authorized a share repurchase plan on Wednesday, August 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Dycom Industries

Several hedge funds and other institutional investors have recently bought and sold shares of DY. &PARTNERS grew its position in Dycom Industries by 2.5% in the fourth quarter. &PARTNERS now owns 1,053 shares of the construction company’s stock worth $356,000 after acquiring an additional 26 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Dycom Industries by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 203 shares of the construction company’s stock worth $69,000 after acquiring an additional 30 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Dycom Industries by 1.7% during the 4th quarter. Osaic Holdings Inc. now owns 2,062 shares of the construction company’s stock worth $697,000 after acquiring an additional 35 shares in the last quarter. Legacy Wealth Managment LLC ID increased its holdings in shares of Dycom Industries by 30.4% during the 1st 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. Finally, CWM LLC raised its stake in shares of Dycom Industries by 1.9% in the 4th quarter. CWM LLC now owns 1,956 shares of the construction company’s stock valued at $661,000 after acquiring an additional 36 shares in the last quarter. 98.33% of the stock is owned by hedge funds and other institutional investors.

More Dycom Industries News

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Dycom reported record fiscal Q2 results: contract revenue rose 45.6% year over year to $2.006 billion, adjusted EPS reached $5.29 versus a roughly $4.62–$4.72 consensus, and adjusted EBITDA was $315.5 million versus expectations near $297 million. Dycom fiscal 2027 second-quarter results
• Positive Sentiment: Total backlog increased 53.2% to a record $12.242 billion, improving revenue visibility. Management cited accelerating fiber, broadband, data-center and other digital-infrastructure demand, with analysts linking the growth opportunity to expanding AI infrastructure investment. Why Dycom’s earnings beat points to an AI infrastructure boom
• Positive Sentiment: The board authorized a new $150 million share-repurchase program, allowing Dycom to buy back up to approximately 1.4% of outstanding shares. The authorization may signal management’s view that the stock is undervalued and could provide support for earnings per share. Dycom $150 million stock repurchase program
• Positive Sentiment: Dycom completed its acquisition of National Technology Integrators, adding to its digital-infrastructure capabilities and potentially strengthening exposure to data-center and communications projects.
• Neutral Sentiment: Fiscal 2027 revenue guidance was raised or established at approximately $7.48 billion to $7.66 billion, broadly around the $7.6 billion analyst consensus, suggesting strong growth but limited upside relative to elevated expectations.
• Negative Sentiment: Third-quarter adjusted EPS guidance of $4.33 to $4.79 has a midpoint of $4.56, below the $4.68 consensus estimate. Investors viewed the cautious outlook as more important than the Q2 beat. Why Dycom Industries stock is sinking
• Negative Sentiment: Approximately $150 million of wireless work was deferred from fiscal 2027 into fiscal 2028, raising concerns about the timing of project execution and near-term revenue and earnings growth. Dycom wireless work deferred into fiscal 2028

Dycom Industries Company Profile

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.