Dycom Industries, Inc. (NYSE:DY) Given Consensus Recommendation of “Buy” by Analysts

Dycom Industries, Inc. (NYSE:DY) has been given an average rating of “Buy” by the thirteen research firms that are covering the company, MarketBeat reports. Eleven investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $554.9167.

DY has been the topic of a number of recent analyst reports. UBS Group reiterated a “buy” rating and set a $611.00 target price on shares of Dycom Industries in a research note on Friday, May 29th. Zacks Research raised Dycom Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Weiss Ratings raised Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. JPMorgan Chase & Co. lifted 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. Finally, B. Riley Financial boosted their price objective on Dycom Industries from $485.00 to $625.00 and gave the company a “buy” rating in a research note on Thursday, May 28th.

Dycom Industries Price Performance

Shares of DY opened at $425.75 on Thursday. The firm has a market cap of $12.79 billion, a PE ratio of 40.51, a price-to-earnings-growth ratio of 0.73 and a beta of 1.50. Dycom Industries has a 52-week low of $233.00 and a 52-week high of $566.47. The business’s 50 day moving average price is $454.17 and its two-hundred day moving average price is $403.05. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.46 and a current ratio of 2.58.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, topping the consensus estimate of $2.73 by $1.69. Dycom Industries had a net margin of 4.98% and a return on equity of 24.13%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm posted $2.09 EPS. The company’s quarterly revenue was up 56.1% on a year-over-year basis. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. On average, equities analysts anticipate that Dycom Industries will post 15.42 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Dycom Industries by 265,593,055.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock valued at $8,076,953,000 after purchasing an additional 23,903,375 shares during the period. Nordea Investment Management AB increased its stake in shares of Dycom Industries by 5,603.6% in the fourth quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company’s stock worth $139,057,000 after buying an additional 398,469 shares during the period. Millennium Management LLC boosted its position in Dycom Industries by 21.0% during the 3rd quarter. Millennium Management LLC now owns 1,324,938 shares of the construction company’s stock valued at $386,564,000 after buying an additional 229,579 shares during the period. First Trust Advisors LP increased its position in shares of Dycom Industries by 27.8% in the first quarter. First Trust Advisors LP now owns 798,699 shares of the construction company’s stock valued at $270,615,000 after acquiring an additional 173,528 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of Dycom Industries during the third quarter valued at about $44,553,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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.