Dycom Industries (NYSE:DY) Price Target Raised to $429.00 at KeyCorp

Dycom Industries (NYSE:DY) had its price target lifted by KeyCorp from $423.00 to $429.00 in a research note published on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the construction company’s stock.

Several other analysts also recently commented on the company. Wells Fargo & Company set a $476.00 target price on Dycom Industries in a research note on Thursday, August 27th. 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. Wall Street Zen lowered Dycom Industries from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research cut Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. decreased their price objective on Dycom Industries from $650.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $502.92.

Dycom Industries Stock Down 0.1%

Dycom Industries stock opened at $291.54 on Monday. The company has a market capitalization of $8.79 billion, a PE ratio of 26.53, a PEG ratio of 0.50 and a beta of 1.49. Dycom Industries has a 12-month low of $266.09 and a 12-month high of $566.47. The firm’s fifty day moving average is $365.92 and its 200 day moving average is $399.32. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 1.35.

Dycom Industries (NYSE:DY) last posted its quarterly 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. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the company posted $3.33 earnings per share. 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. As a group, sell-side analysts predict that Dycom Industries will post 15.82 EPS for the current fiscal year.

Dycom Industries announced that its board has approved a share repurchase plan on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director David Fallon acquired 700 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were purchased at an average cost of $286.92 per share, with a total value of $200,844.00. Following the acquisition, the director directly owned 1,043 shares of the company’s stock, valued at $299,257.56. The trade was a 204.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.22% of the company’s stock.

Institutional Trading of Dycom Industries

Several institutional investors and hedge funds have recently made changes to their positions in DY. Tidal Investments LLC grew its position in Dycom Industries by 25.2% in the 2nd quarter. Tidal Investments LLC now owns 48,093 shares of the construction company’s stock worth $24,315,000 after purchasing an additional 9,691 shares in the last quarter. WINTON GROUP Ltd lifted its position in shares of Dycom Industries by 173.3% during the 2nd quarter. WINTON GROUP Ltd now owns 1,640 shares of the construction company’s stock worth $829,000 after buying an additional 1,040 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Dycom Industries during the 2nd quarter worth approximately $91,000. NewEdge Advisors LLC boosted its stake in shares of Dycom Industries by 1,124.4% in the 2nd quarter. NewEdge Advisors LLC now owns 551 shares of the construction company’s stock worth $279,000 after buying an additional 506 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Dycom Industries by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 8,283 shares of the construction company’s stock worth $4,188,000 after buying 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.