Dycom Industries (NYSE:DY) Stock Rating Reaffirmed as Overweight by Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reaffirmed its Overweight rating on Dycom Industries and set a $476 price target, implying 71.6% upside from the prior close. Analysts overall maintain a “Moderate Buy” consensus with an average target of $502.92.
• Dycom reported quarterly EPS of $5.29 versus the $4.72 consensus, while revenue rose 45.6% year over year to $2.01 billion. The company also authorized a $150 million share buyback, representing up to 1.4% of outstanding shares.
• The stock opened at $277.39, near its one-year low of $263.36 and well below its 50-day and 200-day moving averages. Insiders recently purchased shares, while institutional investors own approximately 98.33% of the company.

Dycom Industries (NYSE:DY - Get Free Report)'s stock had its "overweight" rating reissued by stock analysts at Cantor Fitzgerald in a research report issued on Friday, Benzinga reports. They currently have a $476.00 target price on the construction company's stock. Cantor Fitzgerald's target price suggests a potential upside of 71.60% from the company's previous close.

A number of other equities research analysts have also recently issued reports on DY. JPMorgan Chase & Co. lowered their price objective on Dycom Industries from $650.00 to $570.00 and set an "overweight" rating on the stock in a research note on Thursday, August 27th. Raymond James Financial set a $375.00 price objective on Dycom Industries in a research note on Thursday, September 3rd. Weiss Ratings lowered Dycom Industries from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, September 18th. Wall Street Zen lowered Dycom Industries from a "buy" rating to a "hold" rating in a report on Saturday, September 19th. Finally, Guggenheim reaffirmed a "buy" rating and set a $620.00 target price on shares of Dycom Industries in a report on Thursday, September 17th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $502.92.

Dycom Industries Trading Down 1.8%

NYSE DY opened at $277.39 on Friday. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 0.48 and a beta of 1.50. Dycom Industries has a one year low of $263.36 and a one year high of $566.47. 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 business's fifty day moving average is $329.20 and its 200-day moving average is $391.64.

Dycom Industries (NYSE:DY - Get Free Report) last released its 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 return on equity of 25.30% and a net margin of 4.79%.The company had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the previous year, the business posted $3.33 EPS. The business'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. Equities research analysts predict that Dycom Industries will post 16.06 EPS for the current year.

Dycom Industries declared that its Board of Directors has approved a stock buyback program on Wednesday, August 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Insider Activity

In other Dycom Industries news, Director David Fallon acquired 700 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was bought at an average price of $286.92 per share, with a total value of $200,844.00. Following the completion of the acquisition, 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carmen Sabater acquired 350 shares of the business's stock in a transaction dated Wednesday, September 23rd. The shares were acquired at an average cost of $280.62 per share, with a total value of $98,217.00. Following the acquisition, the director directly owned 7,154 shares of the company's stock, valued at $2,007,555.48. This represents a 5.14% increase in their position. The SEC filing for this purchase provides additional information. 1.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DY. Legacy Wealth Managment LLC ID increased its holdings in shares of Dycom Industries by 30.4% during the first 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 in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Dycom Industries by 4.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 943 shares of the construction company's stock worth $320,000 after purchasing an additional 36 shares in the last quarter. Triumph Capital Management increased its holdings in shares of Dycom Industries by 4.1% in the 2nd quarter. Triumph Capital Management now owns 996 shares of the construction company's stock worth $504,000 after purchasing an additional 39 shares in the last quarter. Arizona State Retirement System increased its holdings 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 purchasing an additional 44 shares in the last quarter. Finally, Somerset Trust Co increased its holdings in shares of Dycom Industries by 0.7% in the 2nd quarter. Somerset Trust Co now owns 6,285 shares of the construction company's stock worth $3,178,000 after purchasing an additional 45 shares in 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 provider of specialty contracting services for the telecommunications and utility industries. Through its operating subsidiaries, the company designs, builds, installs, maintains and repairs infrastructure used by telecommunications providers, utilities and government agencies.

Its services include engineering and project management, aerial and underground construction, fiber-optic and broadband network deployment, wireless infrastructure installation, network maintenance, fulfillment services and emergency restoration.