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

Dycom Industries, Inc. (NYSE:DY) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,980,000 shares, an increase of 15.8% from the January 15th total of 1,710,000 shares. Based on an average trading volume of 472,800 shares, the days-to-cover ratio is presently 4.2 days. Currently, 7.1% of the shares of the stock are short sold.

Dycom Industries Stock Down 4.1 %

Dycom Industries stock traded down $7.53 during midday trading on Monday, hitting $177.89. 391,600 shares of the company were exchanged, compared to its average volume of 386,208. The company’s fifty day moving average price is $182.74 and its 200-day moving average price is $184.54. The company has a market cap of $5.19 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 1.51 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. Dycom Industries has a fifty-two week low of $112.50 and a fifty-two week high of $207.20.

Insider Buying and Selling at Dycom Industries

In other news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the transaction, the director now owns 8,873 shares of the company’s stock, valued at $1,536,005.03. The trade was a 4.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction on Friday, January 10th. The stock was sold at an average price of $175.08, for a total value of $507,732.00. Following the transaction, the director now directly owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This trade represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dycom Industries

Institutional investors have recently made changes to their positions in the business. Accent Capital Management LLC acquired a new stake in shares of Dycom Industries during the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Dycom Industries during the 3rd quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Dycom Industries during the 3rd quarter valued at approximately $39,000. Westside Investment Management Inc. acquired a new stake in shares of Dycom Industries during the 3rd quarter valued at approximately $41,000. Finally, Anchor Investment Management LLC raised its position in shares of Dycom Industries by 37.6% during the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after acquiring an additional 73 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DY. DA Davidson reaffirmed a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research note on Tuesday, November 19th. Wells Fargo & Company lifted their price target on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Raymond James lifted their price target on Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, KeyCorp lifted their price target on Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $208.88.

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.