Dycom Industries (NYSE:DY) Hits New 52-Week Low – Time to Sell?

Dycom Industries, Inc. (NYSE:DY)’s stock price hit a new 52-week low on Tuesday. The stock traded as low as $246.34 and last traded at $251.6040, with a volume of 26,251 shares changing hands. The stock had previously closed at $254.39.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DY shares. UBS Group reaffirmed a “buy” rating on shares of Dycom Industries in a research report on Thursday, September 17th. KeyCorp increased their price objective on shares of Dycom Industries from $423.00 to $429.00 and gave the company an “overweight” rating in a research report on Monday, September 21st. Cantor Fitzgerald restated an “overweight” rating and set a $476.00 price objective on shares of Dycom Industries in a research note on Friday, October 9th. Guggenheim reaffirmed a “buy” rating and issued a $620.00 target price on shares of Dycom Industries in a report on Thursday, September 17th. Finally, Zacks Research downgraded shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $502.92.

Dycom Industries Price Performance

The company has a debt-to-equity ratio of 1.35, a current ratio of 2.35 and a quick ratio of 2.24. The company has a market capitalization of $7.15 billion, a PE ratio of 21.56, a PEG ratio of 0.43 and a beta of 1.50. The firm has a 50-day moving average of $302.37 and a 200 day moving average of $386.22.

Dycom Industries (NYSE:DY) last posted its earnings results on Wednesday, August 26th. The construction company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $0.57. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The business’s revenue for the quarter was up 45.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, research analysts anticipate that Dycom Industries, Inc. will post 16.06 earnings per share for the current fiscal year.

Dycom Industries declared that its board has authorized a stock repurchase plan on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 1.4% of its shares through open market purchases. Share buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Dycom Industries

In related news, Director Carmen Sabater acquired 350 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The shares were bought at an average price of $280.62 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Fallon acquired 700 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were bought at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the transaction, the director owned 1,043 shares of the company’s stock, valued at $299,257.56. This trade represents a 204.08% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Dycom Industries

A number of hedge funds have recently added to or reduced their stakes in DY. Royal Bank of Canada increased its holdings in Dycom Industries by 50.1% in the 1st quarter. Royal Bank of Canada now owns 22,327 shares of the construction company’s stock worth $7,566,000 after acquiring an additional 7,452 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Dycom Industries during the second quarter valued at approximately $4,413,000. Bank of America Corp DE bought a new stake in shares of Dycom Industries during the 2nd quarter valued at $270,174,000. Corient Private Wealth LP raised its position in shares of Dycom Industries by 107.4% during the 2nd quarter. Corient Private Wealth LP now owns 16,864 shares of the construction company’s stock valued at $8,526,000 after purchasing an additional 8,731 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of Dycom Industries by 192.9% during the 1st quarter. Quantinno Capital Management LP now owns 9,982 shares of the construction company’s stock valued at $3,382,000 after buying an additional 6,574 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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.