Dycom Industries (NYSE:DY) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Dycom Industries (NYSE:DY) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other research analysts have also issued reports on DY. Wells Fargo & Company set a $476.00 target price on shares of Dycom Industries in a research note on Thursday, August 27th. Raymond James Financial set a $375.00 price objective on shares of Dycom Industries in a research note on Thursday, September 3rd. Zacks Research lowered shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings cut shares of Dycom Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. Finally, Oppenheimer started coverage on shares of Dycom Industries in a research report on Tuesday, October 27th. They set a “market perform” rating for the company. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $502.92.

Dycom Industries Stock Performance

Shares of Dycom Industries stock opened at $227.42 on Friday. 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 has a twelve month low of $215.28 and a twelve month high of $566.47. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 0.39 and a beta of 1.50. The company’s fifty day moving average is $278.94 and its 200 day moving average is $378.40.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, August 26th. The construction company reported $5.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the business posted $3.33 earnings per share. Dycom Industries’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. Sell-side analysts forecast that Dycom Industries will post 15.98 EPS for the current year.

Dycom Industries announced that its board has initiated a share repurchase program on Wednesday, August 26th that authorizes the company to repurchase $150 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 1.4% of its shares through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Dycom Industries

In related news, Director David Fallon bought 700 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were purchased at an average cost of $286.92 per share, for a total transaction of $200,844.00. Following the completion of the purchase, the director directly owned 1,043 shares in the company, valued at $299,257.56. The trade was a 204.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carmen M. Sabater bought 350 shares of Dycom Industries stock in a transaction dated Wednesday, September 23rd. The shares were bought at an average cost of $280.62 per share, with a total value of $98,217.00. Following the completion of the transaction, the director directly owned 7,154 shares in the company, valued at approximately $2,007,555.48. This trade represents a 5.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.22% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

A number of hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC purchased a new position in shares of Dycom Industries during the third quarter valued at approximately $31,000. Allworth Financial LP purchased a new stake in Dycom Industries in the second quarter worth $35,000. Covestor Ltd lifted its stake in Dycom Industries by 58.6% in the third quarter. Covestor Ltd now owns 138 shares of the construction company’s stock worth $37,000 after acquiring an additional 51 shares during the period. Legacy Wealth Managment LLC ID lifted 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 worth $51,000 after acquiring an additional 35 shares during the period. Finally, Harbor Investment Advisory LLC bought a new stake in Dycom Industries in the second quarter valued at $52,000. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Company Profile

Dycom Industries, Inc is a specialty contracting company that provides infrastructure services to telecommunications providers, utilities, cable and broadband companies, and government agencies. Headquartered in Palm Beach Gardens, Florida, the company operates primarily across the United States.

Its services include engineering, construction, installation, maintenance, and repair of telecommunications infrastructure. Dycom supports the deployment of fiber-optic networks, broadband systems, wireless networks, underground and aerial lines, and other communications facilities.