Dycom Industries (NYSE:DY) Sets New 12-Month High on Analyst Upgrade

Key Points

• Dycom Industries reached a new 52-week high after Wells Fargo raised its price target from $295 to $305, currently rated as 'overweight'.
• Multiple analysts have issued positive upgrades, with DA Davidson setting a price target of $300 and KeyCorp increasing theirs to $295.
• Dycom reported strong quarterly earnings, with an EPS of $3.33, surpassing estimates and showing a 14.5% year-over-year revenue growth.

Shares of Dycom Industries, Inc. (NYSE:DY - Get Free Report) reached a new 52-week high during trading on Friday after Wells Fargo & Company raised their price target on the stock from $295.00 to $305.00. Wells Fargo & Company currently has an overweight rating on the stock. Dycom Industries traded as high as $286.18 and last traded at $285.93, with a volume of 137905 shares traded. The stock had previously closed at $274.78.

DY has been the subject of a number of other reports. DA Davidson lifted their target price on shares of Dycom Industries from $265.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. KeyCorp boosted their target price on shares of Dycom Industries from $255.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. boosted their target price on shares of Dycom Industries from $250.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Zacks Research raised shares of Dycom Industries to a "hold" rating in a research report on Monday, August 11th. Finally, Wall Street Zen raised shares of Dycom Industries from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $290.86.

Institutional Investors Weigh In On Dycom Industries

Large investors have recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Dycom Industries in the 2nd quarter worth about $32,000. EverSource Wealth Advisors LLC lifted its position in Dycom Industries by 73.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company's stock worth $39,000 after buying an additional 68 shares in the last quarter. Versant Capital Management Inc acquired a new position in Dycom Industries during the 1st quarter worth about $28,000. AlphaQuest LLC acquired a new position in Dycom Industries during the 1st quarter worth about $37,000. Finally, Caldwell Trust Co acquired a new position in Dycom Industries during the 2nd quarter worth about $61,000. Institutional investors own 98.33% of the company's stock.

Dycom Industries Trading Up 4.0%

The company's 50-day moving average is $263.26 and its 200-day moving average is $219.73. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 32.11, a P/E/G ratio of 1.32 and a beta of 1.18. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.96 and a current ratio of 3.16.

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

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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