Dycom Industries (NYSE:DY) Hits New 12-Month High - Here's Why

Key Points

• Dycom Industries shares hit a new 52-week high of $301.88 during trading, closing at $296.74 with a trading volume of 10,642 shares.
• Wall Street analysts are optimistic about Dycom Industries, with several firms upgrading their ratings and target prices, resulting in a consensus rating of "Buy" and an average price target of $298.25.
• The company's recent quarterly earnings surpassed expectations, reporting $3.33 earnings per share and a revenue increase of 14.5% year-over-year, although it fell slightly short of analysts' revenue expectations.

Shares of Dycom Industries, Inc. (NYSE:DY - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $301.88 and last traded at $296.74, with a volume of 10642 shares trading hands. The stock had previously closed at $298.82.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DY. Weiss Ratings restated a "buy (b)" rating on shares of Dycom Industries in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Dycom Industries from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Raymond James Financial lifted their target price on shares of Dycom Industries from $290.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 21st. UBS Group lifted their target price on shares of Dycom Industries from $296.00 to $336.00 and gave the company a "buy" rating in a research note on Monday. Finally, Zacks Research raised shares of Dycom Industries to a "hold" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Dycom Industries has a consensus rating of "Buy" and an average price target of $298.25.

Dycom Industries Price Performance

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 firm's fifty day simple moving average is $270.86 and its 200-day simple moving average is $232.81. The firm has a market capitalization of $8.55 billion, a PE ratio of 33.24, a PEG ratio of 1.40 and a beta of 1.15.

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

Hedge Funds Weigh In On Dycom Industries

A number of hedge funds have recently modified their holdings of the company. Archer Investment Corp boosted its position in shares of Dycom Industries by 6.2% in the second quarter. Archer Investment Corp now owns 690 shares of the construction company's stock worth $169,000 after purchasing an additional 40 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Dycom Industries by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 4,492 shares of the construction company's stock worth $1,098,000 after purchasing an additional 46 shares during the period. Profund Advisors LLC boosted its position in shares of Dycom Industries by 4.5% in the second quarter. Profund Advisors LLC now owns 1,420 shares of the construction company's stock worth $347,000 after purchasing an additional 61 shares during the period. GAMMA Investing LLC boosted its position in shares of Dycom Industries by 9.1% in the third quarter. GAMMA Investing LLC now owns 769 shares of the construction company's stock worth $224,000 after purchasing an additional 64 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Dycom Industries by 73.1% in the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company's stock worth $39,000 after purchasing an additional 68 shares during the period. 98.33% of the stock is currently owned by institutional investors.

About Dycom Industries

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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