JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Dycom Industries (NYSE:DY) Stock

Dycom Industries (NYSE:DY) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $370.00 to $395.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 5.26% from the stock’s current price.

A number of other brokerages also recently issued reports on DY. DA Davidson raised their price objective on Dycom Industries from $300.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Bank of America raised their price target on shares of Dycom Industries from $310.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Guggenheim initiated coverage on shares of Dycom Industries in a research note on Thursday, January 22nd. They issued a “buy” rating and a $510.00 price objective on the stock. UBS Group increased their price objective on shares of Dycom Industries from $373.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, Wall Street Zen upgraded shares of Dycom Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 23rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $395.20.

Dycom Industries Trading Up 3.3%

Shares of NYSE DY opened at $375.26 on Wednesday. The firm has a 50 day moving average price of $356.20 and a two-hundred day moving average price of $306.22. The stock has a market cap of $10.87 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 1.39 and a beta of 1.36. Dycom Industries has a 52-week low of $131.37 and a 52-week high of $402.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.90 and a current ratio of 3.09.

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

Insider Activity

In other news, Director Eitan Gertel sold 3,645 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $345.62, for a total transaction of $1,259,784.90. Following the transaction, the director owned 15,997 shares of the company’s stock, valued at $5,528,883.14. This represents a 18.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in Dycom Industries by 4,626.1% in the first quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock valued at $331,000 after acquiring an additional 2,128 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Dycom Industries by 7.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock worth $10,622,000 after purchasing an additional 4,985 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Dycom Industries in the 2nd quarter valued at $288,000. Simplicity Wealth LLC grew its position in Dycom Industries by 76.8% in the 2nd quarter. Simplicity Wealth LLC now owns 3,055 shares of the construction company’s stock valued at $747,000 after purchasing an additional 1,327 shares during the period. Finally, KLP Kapitalforvaltning AS increased its stake in Dycom Industries by 8.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 6,400 shares of the construction company’s stock valued at $1,564,000 after purchasing an additional 500 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

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.