Guggenheim Raises Dycom Industries (NYSE:DY) Price Target to $620.00

Key Points

• Guggenheim raised its price target on Dycom Industries from $575 to $620 and kept a buy rating, implying about 17.3% upside from the prior close.
• Dycom recently reported better-than-expected first-quarter results, with EPS of $4.42 on revenue of $1.96 billion, both well above analyst forecasts. Revenue jumped 56.1% year over year.
• The company also raised its full-year outlook and ended the quarter with a record $11.906 billion backlog, signaling strong demand and good visibility into future revenue.

Dycom Industries (NYSE:DY - Get Free Report) had its price target hoisted by Guggenheim from $575.00 to $620.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Guggenheim's target price points to a potential upside of 17.29% from the stock's previous close.

DY has been the subject of a number of other research reports. UBS Group set a $475.00 price objective on shares of Dycom Industries and gave the stock a "buy" rating in a report on Friday, March 6th. B. Riley Financial increased their target price on shares of Dycom Industries from $420.00 to $485.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Weiss Ratings downgraded shares of Dycom Industries from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. Zacks Research raised shares of Dycom Industries from a "strong sell" rating to a "hold" rating in a report on Monday, April 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Dycom Industries from $395.00 to $415.00 and gave the company an "overweight" rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $441.64.

Dycom Industries Stock Down 0.1%

Shares of Dycom Industries stock opened at $528.60 on Thursday. The business has a 50-day moving average price of $395.39 and a 200 day moving average price of $373.96. Dycom Industries has a fifty-two week low of $225.34 and a fifty-two week high of $566.47. The firm has a market cap of $15.87 billion, a P/E ratio of 54.90, a P/E/G ratio of 0.97 and a beta of 1.46. The company has a quick ratio of 2.61, a current ratio of 2.74 and a debt-to-equity ratio of 1.51.

Dycom Industries (NYSE:DY - Get Free Report) last released its earnings results on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, topping analysts' consensus estimates of $2.73 by $1.69. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.67 billion. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.Dycom Industries's quarterly revenue was up 56.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. On average, sell-side analysts forecast that Dycom Industries will post 12.89 earnings per share for the current fiscal year.

Institutional Trading of Dycom Industries

Several hedge funds have recently added to or reduced their stakes in DY. &PARTNERS grew its stake in shares of Dycom Industries by 2.5% in the fourth quarter. &PARTNERS now owns 1,053 shares of the construction company's stock worth $356,000 after purchasing an additional 26 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Dycom Industries by 17.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 203 shares of the construction company's stock valued at $69,000 after purchasing an additional 30 shares in the last quarter. First Bank & Trust lifted its holdings in Dycom Industries by 1.6% in the fourth quarter. First Bank & Trust now owns 2,106 shares of the construction company's stock worth $712,000 after purchasing an additional 33 shares during the period. Legacy Wealth Managment LLC ID grew its position in Dycom Industries by 30.4% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company's stock valued at $51,000 after buying an additional 35 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in Dycom Industries by 1.7% in the 4th quarter. Osaic Holdings Inc. now owns 2,062 shares of the construction company's stock valued at $697,000 after buying an additional 35 shares in the last quarter. Institutional investors own 98.33% of the company's stock.

More Dycom Industries News

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Dycom reported record first-quarter contract revenue of $1.965 billion, up 56.1% year over year, and adjusted EPS of $4.42, far above Wall Street expectations of $2.73. Article Title
• Positive Sentiment: The company lifted its fiscal 2027 outlook, with full-year contract revenue guidance now at $7.38 billion to $7.65 billion and Q2 revenue guidance also above consensus, signaling continued momentum. Article Title
• Positive Sentiment: Backlog reached a record $11.906 billion, up 46.5%, which points to strong future revenue visibility and sustained demand from telecom/network buildouts. Article Title
• Positive Sentiment: Dycom also announced a deal to acquire National Technology Integrators, expanding its exposure to the high-growth data center infrastructure market, which investors viewed favorably. Article Title
• Neutral Sentiment: The company is also participating in upcoming institutional investor events, which is a routine investor-relations update and not a major standalone catalyst. Article Title

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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