Bank of America Increases Dycom Industries (NYSE:DY) Price Target to $310.00

Key Points

• Bank of America has raised its price target for Dycom Industries from $299.00 to $310.00, indicating a potential upside of 6.77% from the current stock price.
• Other brokerages, including Wells Fargo and Raymond James, have also increased their price targets, with the highest consensus price target now at $293.25.
• Dycom Industries recently reported $3.33 earnings per share (EPS), exceeding analysts' expectations and reflecting a 14.5% revenue growth year-over-year.

Dycom Industries (NYSE:DY - Get Free Report) had its target price increased by analysts at Bank of America from $299.00 to $310.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Bank of America's price objective suggests a potential upside of 6.77% from the company's current price.

A number of other brokerages have also recently weighed in on DY. Wells Fargo & Company upped their price target on Dycom Industries from $295.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday. Raymond James Financial upped their price target on Dycom Industries from $290.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 21st. Zacks Research raised Dycom Industries to a "hold" rating in a research note on Monday, August 11th. Wall Street Zen raised Dycom Industries from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, KeyCorp upped their price target on Dycom Industries from $255.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $293.25.

Dycom Industries Stock Performance

Dycom Industries stock traded up $2.89 on Monday, hitting $290.34. The company's stock had a trading volume of 30,393 shares, compared to its average volume of 434,780. The firm has a market cap of $8.41 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.18. The company has a quick ratio of 2.96, a current ratio of 3.16 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average price of $263.89 and a 200-day moving average price of $221.73. Dycom Industries has a one year low of $131.37 and a one year high of $293.35.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.41. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. Dycom Industries had a net margin of 5.23% and a return on equity of 21.17%. The business's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 EPS. Dycom Industries has set its FY 2026 guidance at EPS. Q3 2026 guidance at 3.030-3.36 EPS. On average, equities analysts anticipate that Dycom Industries will post 7.13 earnings per share for the current year.

Institutional Investors Weigh In On Dycom Industries

Several large investors have recently modified their holdings of DY. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Dycom Industries by 851.6% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company's stock worth $72,459,000 after purchasing an additional 425,652 shares during the period. Assenagon Asset Management S.A. boosted its position in Dycom Industries by 327.1% during the first quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company's stock worth $60,818,000 after purchasing an additional 305,755 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Dycom Industries during the 2nd quarter worth about $34,671,000. Nuveen LLC bought a new stake in shares of Dycom Industries during the 1st quarter worth about $21,451,000. Finally, Voya Investment Management LLC boosted its holdings in shares of Dycom Industries by 1,432.2% during the 1st quarter. Voya Investment Management LLC now owns 144,883 shares of the construction company's stock worth $22,071,000 after buying an additional 135,427 shares during the period. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.

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