Dycom Industries, Inc. (NYSE:DY) Sees Large Growth in Short Interest

Dycom Industries, Inc. (NYSE:DY) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 2,466,900 shares, a growth of 10.4% from the June 30th total of 2,235,100 shares. Based on an average trading volume of 417,300 shares, the short-interest ratio is currently 5.9 days. Currently, 8.3% of the company’s shares are sold short.

Shares of NYSE DY traded down $1.78 during mid-day trading on Thursday, hitting $41.88. 597,459 shares of the stock traded hands, compared to its average volume of 482,073. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.14 and a current ratio of 3.45. Dycom Industries has a 52 week low of $41.42 and a 52 week high of $85.65. The company has a market capitalization of $1.44 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 2.38 and a beta of 1.31. The stock has a fifty day moving average of $54.45.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Tuesday, May 21st. The construction company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.10. Dycom Industries had a return on equity of 10.52% and a net margin of 1.86%. The company had revenue of $883.70 million for the quarter, compared to analyst estimates of $771.90 million. During the same period in the previous year, the company posted $0.65 earnings per share. The firm’s revenue was up 20.8% on a year-over-year basis. Analysts forecast that Dycom Industries will post 2.57 EPS for the current fiscal year.



A number of equities analysts recently issued reports on the company. Wells Fargo & Co increased their target price on Dycom Industries from $50.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. They noted that the move was a valuation call. Canaccord Genuity reduced their target price on Dycom Industries from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. They noted that the move was a valuation call. B. Riley boosted their target price on Dycom Industries from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. ValuEngine cut Dycom Industries from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Finally, Craig Hallum reissued an “in-line” rating and set a $65.00 target price (up from $51.00) on shares of Dycom Industries in a research note on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Dycom Industries presently has an average rating of “Hold” and an average price target of $62.13.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DY. Arizona State Retirement System boosted its holdings in Dycom Industries by 1.2% in the second quarter. Arizona State Retirement System now owns 22,850 shares of the construction company’s stock worth $1,345,000 after acquiring an additional 274 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Dycom Industries by 24.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,476 shares of the construction company’s stock worth $80,000 after acquiring an additional 288 shares in the last quarter. Mason Street Advisors LLC boosted its holdings in Dycom Industries by 2.0% in the first quarter. Mason Street Advisors LLC now owns 16,719 shares of the construction company’s stock worth $768,000 after acquiring an additional 326 shares in the last quarter. Rhumbline Advisers boosted its holdings in Dycom Industries by 0.4% in the first quarter. Rhumbline Advisers now owns 92,933 shares of the construction company’s stock worth $4,269,000 after acquiring an additional 329 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in Dycom Industries by 0.9% in the first quarter. Retirement Systems of Alabama now owns 40,928 shares of the construction company’s stock worth $1,880,000 after acquiring an additional 350 shares in the last quarter. Institutional investors own 91.38% of the company’s stock.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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