JPMorgan Chase & Co. Cuts Dycom Industries (NYSE:DY) Price Target to $570.00

Key Points

• JPMorgan lowered Dycom Industries’ price target to $570 from $650 while maintaining an “overweight” rating, implying approximately 84% upside from the reported share price.
• Analyst sentiment remains positive overall: 11 analysts rate the stock a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $514.
• Dycom reported quarterly EPS of $5.29 versus the $4.72 consensus and revenue of $2.01 billion, up 45.6% year over year. The company also authorized a $150 million share-buyback program.

Dycom Industries (NYSE:DY - Get Free Report) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $650.00 to $570.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the construction company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 84.48% from the company's current price.

Several other equities analysts have also recently issued reports on the stock. B. Riley Financial upped their target price on shares of Dycom Industries from $485.00 to $625.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Wells Fargo & Company set a $476.00 price target on Dycom Industries in a report on Thursday. UBS Group lowered their target price on Dycom Industries from $611.00 to $525.00 and set a "buy" rating on the stock in a report on Thursday. Cantor Fitzgerald cut their price target on Dycom Industries from $654.00 to $476.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Weiss Ratings upgraded shares of Dycom Industries from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $514.00.

Dycom Industries Stock Down 0.6%

NYSE DY traded down $1.93 during mid-day trading on Thursday, reaching $308.98. The stock had a trading volume of 527,462 shares, compared to its average volume of 488,816. Dycom Industries has a 1 year low of $242.55 and a 1 year high of $566.47. The stock has a market cap of $9.28 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 0.62 and a beta of 1.54. The company has a fifty day moving average price of $424.20 and a 200 day moving average price of $415.22. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.58 and a quick ratio of 2.46.

Dycom Industries (NYSE:DY - Get Free Report) last posted 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. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.98 billion. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The company's quarterly revenue was up 45.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.33 EPS. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. On average, research analysts expect that Dycom Industries will post 15.45 earnings per share for the current year.

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

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its stake in Dycom Industries by 265,593,055.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company's stock worth $8,076,953,000 after acquiring an additional 23,903,375 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Dycom Industries by 51,902.4% during the 2nd quarter. California State Teachers Retirement System now owns 17,614,250 shares of the construction company's stock valued at $8,905,589,000 after acquiring an additional 17,580,378 shares during the last quarter. BlackRock Inc. bought a new position in shares of Dycom Industries during the 2nd quarter valued at approximately $1,513,523,000. Hill City Capital LP purchased a new position in shares of Dycom Industries in the second quarter valued at $510,536,693,000. Finally, Bank of America Corp DE bought a new stake in Dycom Industries in the second quarter worth $270,174,000. 98.33% of the stock is owned by institutional investors.

Dycom Industries News Summary

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Dycom reported record fiscal 2027 second-quarter results: adjusted EPS of $5.29 exceeded the $4.72 consensus, revenue rose 45.6% year over year to $2.006 billion, and adjusted EBITDA reached $315.5 million. Dycom fiscal 2027 second-quarter results
• Positive Sentiment: Total backlog climbed 53.2% to a record $12.242 billion, improving revenue visibility. Management cited strong fiber, data-center and Building Systems demand, with digital infrastructure and AI-related investment supporting the outlook. Dycom earnings call and fiber demand
• Positive Sentiment: Dycom raised its fiscal 2027 revenue outlook to approximately $7.48 billion-$7.66 billion and authorized a $150 million share-repurchase program, equivalent to as much as 1.4% of shares outstanding. Dycom share repurchase authorization

About Dycom Industries

Dycom Industries, Inc NYSE: DY is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom's services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom's customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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