Dycom Industries, Inc. (NYSE:DY) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Dycom Industries, with 10 buy ratings and two holds. The average 12-month price target is approximately $502.92.
• Dycom reported quarterly EPS of $5.29, beating estimates of $4.72, while revenue reached $2.01 billion and rose 45.6% year over year.
• The company approved a $150 million share-repurchase program, covering up to 1.4% of outstanding shares, as the stock traded near $291.54—well below its one-year high of $566.47.

Shares of Dycom Industries, Inc. (NYSE:DY - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twelve analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $502.9167.

A number of research firms recently commented on DY. KeyCorp boosted their price objective on shares of Dycom Industries from $423.00 to $429.00 and gave the stock an "overweight" rating in a report on Monday. UBS Group reaffirmed a "buy" rating on shares of Dycom Industries in a report on Thursday. Raymond James Financial set a $375.00 price target on shares of Dycom Industries in a research report on Thursday, September 3rd. B. Riley Financial boosted their price target on Dycom Industries from $485.00 to $625.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Finally, Wedbush set a $654.00 price target on Dycom Industries in a research report on Friday, May 29th.

Dycom Industries Trading Down 0.1%

NYSE DY opened at $291.54 on Tuesday. The firm's fifty day moving average is $365.92 and its two-hundred day moving average is $399.32. Dycom Industries has a one year low of $266.09 and a one year high of $566.47. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.35. The firm has a market cap of $8.79 billion, a PE ratio of 26.53, a P/E/G ratio of 0.50 and a beta of 1.49.

Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings data 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 net margin of 4.79% and a return on equity of 25.30%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm earned $3.33 EPS. Dycom Industries's quarterly revenue was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. Analysts expect that Dycom Industries will post 15.82 earnings per share for the current year.

Dycom Industries announced that its Board of Directors has approved a share buyback plan on Wednesday, August 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Dycom Industries news, Director David Fallon bought 700 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was bought at an average price of $286.92 per share, for a total transaction of $200,844.00. Following the completion of the transaction, the director owned 1,043 shares in the company, valued at approximately $299,257.56. The trade was a 204.08% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.22% of the company's stock.

Institutional Trading of Dycom Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC increased its position in Dycom Industries by 25.2% during the 2nd quarter. Tidal Investments LLC now owns 48,093 shares of the construction company's stock worth $24,315,000 after purchasing an additional 9,691 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in Dycom Industries by 173.3% in the 2nd quarter. WINTON GROUP Ltd now owns 1,640 shares of the construction company's stock valued at $829,000 after purchasing an additional 1,040 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Dycom Industries during the second quarter worth $91,000. NewEdge Advisors LLC grew its position in shares of 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 period. Finally, Arizona State Retirement System grew its position in shares of 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 period. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

About Dycom Industries

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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