Dycom Industries (NYSE:DY) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Dycom Industries (NYSE:DY) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other analysts have also issued research reports about the stock. Bank of America boosted their price objective on shares of Dycom Industries from $310.00 to $365.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. DA Davidson lifted their price target on shares of Dycom Industries from $300.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Wells Fargo & Company increased their price objective on shares of Dycom Industries from $315.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. JPMorgan Chase & Co. raised their price objective on Dycom Industries from $275.00 to $370.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Finally, KeyCorp lifted their target price on Dycom Industries from $320.00 to $392.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Dycom Industries has a consensus rating of “Buy” and an average target price of $379.67.

Dycom Industries Stock Performance

Shares of Dycom Industries stock opened at $375.07 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.09 and a quick ratio of 2.90. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 36.92, a price-to-earnings-growth ratio of 1.89 and a beta of 1.34. The stock’s 50-day moving average is $344.87 and its 200-day moving average is $297.33. Dycom Industries has a one year low of $131.37 and a one year high of $379.89.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, November 19th. The construction company reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.48. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.41 billion. Dycom Industries had a return on equity of 22.21% and a net margin of 5.75%.Dycom Industries’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.68 EPS. Dycom Industries has set its Q4 2026 guidance at 1.620-1.970 EPS. Equities analysts predict that Dycom Industries will post 7.13 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Eitan Gertel sold 3,645 shares of Dycom Industries stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $345.62, for a total transaction of $1,259,784.90. Following the completion of the transaction, the director directly owned 15,997 shares in the company, valued at approximately $5,528,883.14. The trade was a 18.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dycom Industries

A number of large investors have recently made changes to their positions in DY. AlTi Global Inc. boosted its position in shares of Dycom Industries by 20.7% in the second quarter. AlTi Global Inc. now owns 13,097 shares of the construction company’s stock valued at $3,201,000 after acquiring an additional 2,243 shares during the period. Leuthold Group LLC bought a new position in Dycom Industries during the second quarter worth about $3,762,000. Entropy Technologies LP raised its stake in Dycom Industries by 378.1% in the 2nd quarter. Entropy Technologies LP now owns 7,826 shares of the construction company’s stock worth $1,913,000 after purchasing an additional 6,189 shares in the last quarter. Creative Planning boosted its holdings in Dycom Industries by 88.7% in the 2nd quarter. Creative Planning now owns 12,195 shares of the construction company’s stock valued at $2,980,000 after purchasing an additional 5,731 shares during the period. Finally, Greenleaf Trust bought a new stake in Dycom Industries in the 2nd quarter valued at about $246,000. Institutional investors own 98.33% of the company’s stock.

Dycom Industries Company Profile

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.