What Happened?
Shares of telecommunications company Dycom (NYSE: DY) jumped 2.9% in the afternoon session after a Wells Fargo analyst raised the price target on the stock, while maintaining a positive rating. The analyst, Eric Luebchow, kept an "Overweight" rating for Dycom Industries and increased the price target to $315.00 from $305.00. This action signaled increased confidence in the company's future performance.
After the initial pop the shares cooled down to $291.25, up 3% from previous close.
Is now the time to buy Dycom? Access our full analysis report here.
What Is The Market Telling Us
Dycom’s shares are somewhat volatile and have had 11 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 9 months ago when the stock dropped 9.8% on the news that the company reported weak fourth-quarter 2024 results: Its revenue and EBITDA guidance for the next quarter fell short of Wall Street's estimates. On the other hand, Dycom beat analysts' revenue, EBITDA, and EPS expectations this quarter. Overall, this was a mixed yet weaker quarter.
Dycom is up 64.8% since the beginning of the year, and at $291.25 per share, it is trading close to its 52-week high of $298.82 from October 2025. Investors who bought $1,000 worth of Dycom’s shares 5 years ago would now be looking at an investment worth $3,943.
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