Dycom Industries, Inc. (NYSE:DY) Short Interest Update

Dycom Industries, Inc. (NYSE:DY) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 1,210,000 shares, an increase of 6.1% from the August 15th total of 1,140,000 shares. Currently, 4.3% of the shares of the company are short sold. Based on an average daily volume of 302,100 shares, the short-interest ratio is presently 4.0 days.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DY shares. UBS Group upped their price objective on Dycom Industries from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Bank of America lifted their price target on shares of Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Raymond James raised their target price on Dycom Industries from $143.00 to $195.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company upped their price target on Dycom Industries from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Dycom Industries currently has an average rating of “Buy” and an average target price of $199.57.

Insiders Place Their Bets

In other Dycom Industries news, VP Jason T. Lawson sold 856 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $174.48, for a total value of $149,354.88. Following the transaction, the vice president now directly owns 6,937 shares of the company’s stock, valued at approximately $1,210,367.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.28% of the company’s stock.

Institutional Trading of Dycom Industries

A number of institutional investors and hedge funds have recently modified their holdings of DY. Allspring Global Investments Holdings LLC bought a new position in shares of Dycom Industries during the 1st quarter valued at approximately $28,000. GAMMA Investing LLC grew its holdings in Dycom Industries by 107.8% during the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company’s stock valued at $49,000 after purchasing an additional 152 shares during the period. SJS Investment Consulting Inc. grew its holdings in Dycom Industries by 5,071.4% during the second quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company’s stock valued at $61,000 after purchasing an additional 355 shares during the period. Signaturefd LLC grew its holdings in Dycom Industries by 196.7% during the second quarter. Signaturefd LLC now owns 359 shares of the construction company’s stock valued at $61,000 after purchasing an additional 238 shares during the period. Finally, Headlands Technologies LLC bought a new position in Dycom Industries during the first quarter valued at $72,000. 98.33% of the stock is owned by hedge funds and other institutional investors.

Dycom Industries Stock Up 1.5 %

DY stock traded up $2.71 during midday trading on Tuesday, reaching $188.20. 422,405 shares of the company’s stock traded hands, compared to its average volume of 278,256. Dycom Industries has a 52 week low of $78.42 and a 52 week high of $196.34. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.96 and a beta of 1.41. The firm’s fifty day moving average price is $178.72 and its 200-day moving average price is $162.43. The company has a quick ratio of 3.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.81.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.20. Dycom Industries had a return on equity of 22.28% and a net margin of 5.37%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned $2.03 EPS. The company’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts forecast that Dycom Industries will post 8.02 earnings per share for the current fiscal year.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.