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

Dycom Industries, Inc. (NYSE:DY) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,080,000 shares, a growth of 6.9% from the November 15th total of 1,010,000 shares. Based on an average daily volume of 388,700 shares, the short-interest ratio is presently 2.8 days. Currently, 3.8% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DY. Bank of America increased their price objective on shares of Dycom Industries from $198.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. B. Riley raised their price objective on shares of Dycom Industries from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. KeyCorp upped their target price on Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. DA Davidson reissued a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a report on Tuesday, November 19th. Finally, Wells Fargo & Company upped their price objective on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Dycom Industries has a consensus rating of “Buy” and a consensus target price of $206.13.

Dycom Industries Trading Down 1.5 %

NYSE:DY traded down $2.66 during trading hours on Tuesday, hitting $177.05. 546,477 shares of the company were exchanged, compared to its average volume of 312,561. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 1.45 and a beta of 1.41. Dycom Industries has a one year low of $107.53 and a one year high of $207.20. The company has a fifty day simple moving average of $186.53 and a 200 day simple moving average of $181.93. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89.

Institutional Trading of Dycom Industries

Hedge funds have recently bought and sold shares of the business. Ironwood Investment Management LLC raised its stake in shares of Dycom Industries by 0.4% during the 2nd quarter. Ironwood Investment Management LLC now owns 14,625 shares of the construction company’s stock worth $2,468,000 after purchasing an additional 58 shares during the period. First Horizon Advisors Inc. boosted its stake in Dycom Industries by 25.4% in the third quarter. First Horizon Advisors Inc. now owns 291 shares of the construction company’s stock valued at $57,000 after acquiring an additional 59 shares during the last quarter. Anchor Investment Management LLC grew its position in shares of Dycom Industries by 50.4% during the 2nd quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after acquiring an additional 65 shares during the period. HighTower Advisors LLC increased its stake in shares of Dycom Industries by 4.5% during the 3rd quarter. HighTower Advisors LLC now owns 1,858 shares of the construction company’s stock worth $366,000 after purchasing an additional 80 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Dycom Industries by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 8,145 shares of the construction company’s stock worth $1,375,000 after purchasing an additional 82 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.

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.