Dycom Industries (DY) is currently trading at $135.68 as of 2025-03-10, with a 14-day RSI of 23.97, indicating oversold conditions. The stock has significant support at $130.45 (Fibonacci S2) and resistance at $176.10 (Fibonacci R1). The MACD is bearish, but the oversold RSI suggests potential exhaustion of selling pressure.
DY has announced a $150 million stock repurchase program, which is positive for shareholder value. However, the company faces challenges with declining revenues and negative insider sentiment. Analysts maintain a Strong Buy rating with a $220 target price, reflecting confidence in DY's long-term growth.
The stock repurchase program has had a positive impact, with DY rising 3.58% in pre-market. However, broader market conditions and profit-taking have caused recent declines.
Based on oversold conditions and the repurchase program, DY could see a short-term rebound. Predicted price target for next week: $142.50. Recommendation: Buy as a contrarian play, expecting a bounce from oversold levels.
The price of DY is predicted to go up -16.16%, based on the high correlation periods with DAL. The similarity of these two price pattern on the periods is 98.2%.
DY
DAL
Keybanc
2025-01-08
Price Target
$227 → $229
Upside
+27.93%
Keybanc
2024-10-08
Price Target
$200 → $227
Upside
+19.39%