Dycom Industries, Inc. (NYSE:DY) Stock Has Average Price Target of $502.92 According to 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 $502.92, though individual targets range from $375 to $570.
• Dycom reported quarterly EPS of $5.29, beating 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.
• Institutional investors own 98.33% of Dycom’s shares, and several major funds—including BlackRock and Hill City Capital—recently established sizable positions. Two directors also purchased company stock in September.

Dycom Industries, Inc. (NYSE:DY - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twelve analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $502.92.

DY has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price target 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. Wells Fargo & Company set a $476.00 price objective on Dycom Industries in a research report on Thursday, August 27th. UBS Group reissued a "buy" rating on shares of Dycom Industries in a research report on Thursday, September 17th. Raymond James Financial set a $375.00 price objective on Dycom Industries in a research note on Thursday, September 3rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $476.00 target price on shares of Dycom Industries in a research report on Friday, October 9th.

Insider Activity

In related news, Director David Fallon bought 700 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were acquired at an average cost of $286.92 per share, for a total transaction of $200,844.00. Following the acquisition, the director owned 1,043 shares in the company, valued at $299,257.56. This represents a 204.08% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carmen Sabater purchased 350 shares of Dycom Industries stock in a transaction that occurred on Wednesday, September 23rd. The shares were bought at an average cost of $280.62 per share, for a total transaction of $98,217.00. Following the completion of the transaction, the director directly owned 7,154 shares in the company, valued at $2,007,555.48. This represents a 5.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.22% of the company's stock.

Institutional Trading of Dycom Industries

A number of hedge funds have recently made changes to their positions in DY. BlackRock Inc. purchased a new position in shares of Dycom Industries in the second quarter valued at $1,513,523,000. Hill City Capital LP acquired a new stake in Dycom Industries during the 2nd quarter valued at $510,536,693. Bank of America Corp DE purchased a new stake in Dycom Industries during the 2nd quarter worth $270,174,000. Bank of New York Mellon Corp purchased a new stake in Dycom Industries during the 2nd quarter worth $90,216,000. Finally, First Trust Advisors LP increased its stake in Dycom Industries by 27.8% during the 1st quarter. First Trust Advisors LP now owns 798,699 shares of the construction company's stock worth $270,615,000 after buying an additional 173,528 shares during the period. Hedge funds and other institutional investors own 98.33% of the company's stock.

Dycom Industries Price Performance

DY opened at $253.86 on Friday. Dycom Industries has a 52-week low of $250.13 and a 52-week high of $566.47. The company has a 50 day moving average of $311.83 and a two-hundred day moving average of $387.83. The company has a market cap of $7.66 billion, a P/E ratio of 23.10, a P/E/G ratio of 0.44 and a beta of 1.50. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 1.35.

Dycom Industries (NYSE:DY - Get Free Report) last issued its 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. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the firm 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. On average, analysts expect that Dycom Industries will post 16.06 earnings per share for the current year.

Dycom Industries announced that its board has initiated a share repurchase plan on Wednesday, August 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 1.4% of its shares through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

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.

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