Dycom Industries, Inc. (NYSE:DY) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Analysts maintain a bullish view: Thirteen brokerages give Dycom Industries a consensus “Buy” rating, with an average 12-month price target of approximately $554.92. Several firms recently raised their targets, including Wells Fargo and JPMorgan to $650.
• Quarterly results exceeded expectations: Dycom reported $4.42 in earnings per share versus the $2.73 consensus estimate, while revenue rose 56.1% year over year to $1.96 billion.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 98.33% of the stock, with several major investment firms recently increasing their positions.

Shares of Dycom Industries, Inc. (NYSE:DY - Get Free Report) have been given an average rating of "Buy" by the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $554.9167.

DY has been the topic of several research analyst reports. Guggenheim boosted their price objective on Dycom Industries from $575.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Weiss Ratings cut Dycom Industries from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday. Wells Fargo & Company lifted their target price on Dycom Industries from $500.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. boosted their price target on shares of Dycom Industries from $415.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Finally, Wedbush set a $654.00 price target on shares of Dycom Industries in a research note on Friday, May 29th.

Dycom Industries Price Performance

Shares of DY opened at $400.32 on Monday. The firm has a 50-day simple moving average of $450.97 and a two-hundred day simple moving average of $411.56. The stock has a market cap of $12.02 billion, a PE ratio of 38.09, a P/E/G ratio of 0.71 and a beta of 1.54. Dycom Industries has a 1-year low of $233.00 and a 1-year high of $566.47. 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 issued its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, topping the consensus estimate of $2.73 by $1.69. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the business posted $2.09 EPS. The business's revenue for the quarter was up 56.1% compared to the same quarter last year. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. As a group, analysts forecast that Dycom Industries will post 15.45 EPS for the current year.

Institutional Investors Weigh In On Dycom Industries

Several large investors have recently added to or reduced their stakes in DY. Northwestern Mutual Wealth Management Co. boosted its position 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 valued at $8,076,953,000 after buying an additional 23,903,375 shares during the period. Peconic Partners LLC grew its stake in shares of Dycom Industries by 2.8% in the second quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company's stock worth $933,038,000 after acquiring an additional 105,586 shares in the last quarter. First Trust Advisors LP increased its position in shares of Dycom Industries by 27.8% during the first quarter. First Trust Advisors LP now owns 798,699 shares of the construction company's stock worth $270,615,000 after acquiring an additional 173,528 shares during the period. Geode Capital Management LLC increased its position in shares of Dycom Industries by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company's stock worth $245,771,000 after acquiring an additional 53,993 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Dycom Industries by 24.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 558,519 shares of the construction company's stock worth $188,725,000 after acquiring an additional 110,065 shares during the period. 98.33% of the stock is owned by hedge funds and other institutional investors.

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.

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