Wells Fargo & Company Forecasts Strong Price Appreciation for Dycom Industries (NYSE:DY) Stock

Key Points

• Wells Fargo & Company has increased its price target for Dycom Industries from $295.00 to $305.00, indicating an expected upside of 11% from the stock's current price.
• The consensus rating for Dycom Industries is currently a Buy, with a consensus target price of $290.86, supported by several analysts including those from Zacks and DA Davidson.
• Dycom Industries recently reported earnings of $3.33 EPS, exceeding analysts' estimates, despite revenue slightly falling short of expectations, signifying a 14.5% increase in year-over-year revenue.

Dycom Industries (NYSE:DY - Get Free Report) had its price objective increased by research analysts at Wells Fargo & Company from $295.00 to $305.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the construction company's stock. Wells Fargo & Company's price objective would indicate a potential upside of 11.00% from the stock's current price.

A number of other research firms have also weighed in on DY. Zacks Research raised shares of Dycom Industries to a "hold" rating in a research note on Monday, August 11th. DA Davidson raised their target price on shares of Dycom Industries from $265.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. raised their target price on shares of Dycom Industries from $250.00 to $275.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Raymond James Financial raised their target price on shares of Dycom Industries from $290.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday, August 21st. Finally, Wall Street Zen raised shares of Dycom Industries from a "hold" rating to a "buy" rating in a research note 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 issued a Hold rating to the company. Based on data from MarketBeat, Dycom Industries presently has a consensus rating of "Buy" and a consensus target price of $290.86.

Dycom Industries Trading Down 0.6%

DY stock opened at $274.78 on Friday. The company has a current ratio of 3.16, a quick ratio of 2.96 and a debt-to-equity ratio of 0.74. Dycom Industries has a 12-month low of $131.37 and a 12-month high of $285.64. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 1.32 and a beta of 1.18. The business's 50-day moving average is $263.26 and its 200 day moving average is $219.73.

Dycom Industries (NYSE:DY - Get Free Report) last posted its quarterly earnings data 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. Dycom Industries had a return on equity of 21.17% and a net margin of 5.23%.The company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same period in the previous year, the firm posted $2.46 EPS. Dycom Industries's revenue was up 14.5% compared to the same quarter last year. Dycom Industries has set its FY 2026 guidance at EPS. Q3 2026 guidance at 3.030-3.36 EPS. On average, sell-side analysts anticipate that Dycom Industries will post 7.13 EPS for the current fiscal year.

Institutional Trading of Dycom Industries

Institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in shares of Dycom Industries during the 1st quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Dycom Industries in the second quarter valued at approximately $32,000. AlphaQuest LLC purchased a new stake in Dycom Industries in the first quarter valued at approximately $37,000. EverSource Wealth Advisors LLC raised its position in Dycom Industries by 73.1% in the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company's stock valued at $39,000 after purchasing an additional 68 shares during the period. Finally, Caldwell Trust Co purchased a new stake in Dycom Industries in the second quarter valued at approximately $61,000. Hedge funds and other institutional investors own 98.33% of the company's stock.

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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