Dycom Industries (NYSE:DY) Upgraded to Strong-Buy at Wall Street Zen

Dycom Industries (NYSE:DY) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other equities analysts have also issued reports on DY. B. Riley Financial raised their price target on Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. increased their price objective on Dycom Industries from $415.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Bank of America increased their price objective on Dycom Industries from $365.00 to $475.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Wells Fargo & Company increased their price objective on Dycom Industries from $500.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, Zacks Research upgraded Dycom Industries from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given 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 $554.92.

Dycom Industries Price Performance

DY opened at $466.67 on Friday. The stock’s 50 day simple moving average is $415.56 and its 200 day simple moving average is $383.42. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.58 and a quick ratio of 2.46. Dycom Industries has a 1 year low of $229.97 and a 1 year high of $566.47. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of 44.40, a PEG ratio of 1.03 and a beta of 1.49.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, May 27th. The construction company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $1.69. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%.The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $2.09 EPS. Dycom Industries’s revenue for the quarter was up 56.1% compared to the same quarter last year. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. As a group, analysts predict that Dycom Industries will post 12.89 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DY. Nordea Investment Management AB raised its stake in Dycom Industries by 5,603.6% during the fourth quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company’s stock valued at $139,057,000 after buying an additional 398,469 shares during the last quarter. Wilson Asset Management International PTY Ltd. purchased a new position in Dycom Industries during the fourth quarter valued at $1,014,000. New York Life Investment Management LLC purchased a new position in Dycom Industries during the third quarter valued at $830,000. American Century Companies Inc. raised its stake in Dycom Industries by 58.4% during the third quarter. American Century Companies Inc. now owns 97,801 shares of the construction company’s stock valued at $28,534,000 after buying an additional 36,074 shares during the last quarter. Finally, 12th Street Asset Management Company LLC raised its stake in Dycom Industries by 48.9% during the third quarter. 12th Street Asset Management Company LLC now owns 67,238 shares of the construction company’s stock valued at $19,617,000 after buying an additional 22,077 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.