Dycom Industries (NYSE:DY) Trading Down 4.4% - Here's What Happened

Key Points

• Dycom shares fell 4.4% in mid-day trading to about $364.24, with trading volume 22% below the average session level.
• Analyst sentiment remains positive despite the decline: 11 analysts rate the stock a Buy and one a Hold, resulting in a “Moderate Buy” consensus and an average price target of $578.09.
• Dycom reported quarterly EPS of $4.42 versus the $2.73 consensus estimate, while revenue rose 56.1% year over year to $1.96 billion; institutional investors own approximately 98.33% of the stock.

Dycom Industries, Inc. (NYSE:DY - Get Free Report)'s stock price was down 4.4% during mid-day trading on Tuesday . The stock traded as low as $367.06 and last traded at $364.2410. 361,889 shares changed hands during trading, a decline of 22% from the average session volume of 465,000 shares. The stock had previously closed at $380.95.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DY shares. Zacks Research downgraded shares of Dycom Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Weiss Ratings raised shares of Dycom Industries from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 13th. Guggenheim lifted their price objective on Dycom Industries from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Cantor Fitzgerald upped their target price on Dycom Industries from $436.00 to $654.00 and gave the company an "overweight" rating in a research note on Friday, May 29th. Finally, Wedbush set a $654.00 target price on Dycom Industries in a report on Friday, May 29th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Dycom Industries presently has an average rating of "Moderate Buy" and a consensus price target of $578.09.

Dycom Industries Stock Performance

The stock has a market cap of $10.87 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 0.69 and a beta of 1.54. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.58 and a quick ratio of 2.46. The stock's 50-day moving average is $429.52 and its 200-day moving average is $415.72.

Dycom Industries (NYSE:DY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The construction company reported $4.42 earnings per share 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 analyst estimates of $1.67 billion. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The business's revenue for the quarter was up 56.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Analysts anticipate that Dycom Industries, Inc. will post 15.45 EPS for the current fiscal year.

Institutional Trading of Dycom Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. &PARTNERS raised its stake in Dycom Industries by 2.5% during the fourth quarter. &PARTNERS now owns 1,053 shares of the construction company's stock worth $356,000 after purchasing an additional 26 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Dycom Industries by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 203 shares of the construction company's stock worth $69,000 after buying an additional 30 shares during the last quarter. Legacy Wealth Managment LLC ID increased its holdings in shares of Dycom Industries by 30.4% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 150 shares of the construction company's stock worth $51,000 after buying an additional 35 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Dycom Industries by 1.7% in the 4th quarter. Osaic Holdings Inc. now owns 2,062 shares of the construction company's stock worth $697,000 after buying an additional 35 shares during the period. Finally, CWM LLC boosted its holdings in Dycom Industries by 1.9% in the fourth quarter. CWM LLC now owns 1,956 shares of the construction company's stock valued at $661,000 after acquiring an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

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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