Dycom Industries (NYSE:DY) Given "Overweight" Rating at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reiterated its “Overweight” rating on Dycom Industries and set a $476 price target, implying 69.38% upside from the prior close.
• Analyst sentiment remains positive, with 10 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $502.92.
• Dycom reported quarterly EPS of $5.29, exceeding estimates of $4.72, while revenue rose 45.6% year over year to $2.01 billion. The company also authorized a $150 million share repurchase plan.

Dycom Industries (NYSE:DY - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at Cantor Fitzgerald in a note issued to investors on Thursday, Benzinga reports. They presently have a $476.00 target price on the construction company's stock. Cantor Fitzgerald's target price points to a potential upside of 69.38% from the stock's previous close.

DY has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their price objective on shares of Dycom Industries from $650.00 to $570.00 and set an "overweight" rating for the company in a research report on Thursday, August 27th. Raymond James Financial set a $375.00 target price on shares of Dycom Industries in a research note on Thursday, September 3rd. Wedbush set a $654.00 price target on Dycom Industries in a research report on Friday, May 29th. B. Riley Financial upped their price objective on Dycom Industries from $485.00 to $625.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Finally, Weiss Ratings cut Dycom Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 18th. Ten research 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $502.92.

Dycom Industries Trading Down 0.4%

DY opened at $281.03 on Thursday. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $8.48 billion, a PE ratio of 25.57, a PEG ratio of 0.48 and a beta of 1.49. The firm has a 50-day moving average price of $360.24 and a two-hundred day moving average price of $397.95. Dycom Industries has a 1-year low of $266.84 and a 1-year high of $566.47.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, beating analysts' consensus estimates of $4.72 by $0.57. The company had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.98 billion. Dycom Industries had a return on equity of 25.30% and a net margin of 4.79%.Dycom Industries's revenue was up 45.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, equities analysts anticipate that Dycom Industries will post 15.94 earnings per share for the current fiscal year.

Dycom Industries declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Dycom Industries

In other news, Director David Fallon bought 700 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was acquired at an average cost of $286.92 per share, with a total value of $200,844.00. Following the completion of the transaction, the director directly owned 1,043 shares of the company's stock, valued at $299,257.56. This represents a 204.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Dycom Industries

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC raised its position in shares of Dycom Industries by 25.2% during the 2nd quarter. Tidal Investments LLC now owns 48,093 shares of the construction company's stock valued at $24,315,000 after buying an additional 9,691 shares in the last quarter. WINTON GROUP Ltd boosted its position in Dycom Industries by 173.3% during the second quarter. WINTON GROUP Ltd now owns 1,640 shares of the construction company's stock valued at $829,000 after buying an additional 1,040 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Dycom Industries in the 2nd quarter worth approximately $91,000. NewEdge Advisors LLC lifted its position in Dycom Industries by 1,124.4% in the second quarter. NewEdge Advisors LLC now owns 551 shares of the construction company's stock valued at $279,000 after purchasing an additional 506 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Dycom Industries by 0.5% in the second quarter. Arizona State Retirement System now owns 8,283 shares of the construction company's stock valued at $4,188,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Company Profile

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.

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