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

by · The Cerbat Gem

Dycom Industries (NYSE:DY – Get Free Report) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $370.00 to $395.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 8.05% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Zacks Research lowered Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Wells Fargo & Company boosted their target price on Dycom Industries from $315.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Dycom Industries in a research note on Wednesday, January 21st. Bank of America increased their target price 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. Finally, Guggenheim initiated coverage on Dycom Industries in a research note on Thursday, January 22nd. They set a “buy” rating and a $510.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $395.20.

View Our Latest Analysis on Dycom Industries

Dycom Industries Stock Down 6.7%

Shares of NYSE:DY traded down $26.12 during mid-day trading on Wednesday, hitting $365.58. 162,223 shares of the company traded hands, compared to its average volume of 334,245. The firm’s 50 day simple moving average is $355.65 and its 200 day simple moving average is $305.34. The firm has a market cap of $10.59 billion, a P/E ratio of 35.83, a PEG ratio of 1.46 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 – Get Free Report) last issued its quarterly earnings results on Wednesday, November 19th. The construction company reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.48. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company earned $2.68 EPS. Dycom Industries has set its Q4 2026 guidance at 1.620-1.970 EPS. On average, equities analysts anticipate that Dycom Industries will post 7.13 EPS for the current year.

Insider Activity at Dycom Industries

In other Dycom Industries news, Director Eitan Gertel sold 3,645 shares of the business’s stock in a transaction on 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 sale, the director owned 15,997 shares of the company’s stock, valued at $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 is available through this link. 3.72% of the stock is currently owned by company insiders.

Institutional Trading of Dycom Industries

Several hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB grew its position in Dycom Industries by 5,603.6% during the 4th quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company’s stock worth $139,057,000 after acquiring an additional 398,469 shares during the last quarter. Millennium Management LLC grew its position in shares of Dycom Industries by 21.0% in the 3rd quarter. Millennium Management LLC now owns 1,324,938 shares of the construction company’s stock worth $386,564,000 after buying an additional 229,579 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Dycom Industries during the third quarter valued at approximately $44,553,000. Bornite Capital Management LP purchased a new position in Dycom Industries during the 3rd quarter valued at $43,764,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Dycom Industries during the 2nd quarter valued at about $34,671,000. 98.33% of the stock is owned by institutional investors.

About Dycom Industries

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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.

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