Short Interest in Dycom Industries, Inc. (NYSE:DY) Decreases By 20.0%

Dycom Industries, Inc. (NYSE:DY) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 1,280,000 shares, a drop of 20.0% from the May 31st total of 1,600,000 shares. Approximately 4.6% of the shares of the company are short sold. Based on an average trading volume of 251,400 shares, the short-interest ratio is currently 5.1 days.

Dycom Industries Stock Down 0.2 %

Shares of DY stock opened at $168.50 on Tuesday. The stock has a market cap of $4.90 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 1.82 and a beta of 1.45. Dycom Industries has a one year low of $78.42 and a one year high of $186.47. The stock has a fifty day moving average price of $162.70 and a 200 day moving average price of $138.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.17 and a quick ratio of 2.97.

Dycom Industries (NYSE:DY) last issued its earnings results on Wednesday, May 22nd. The construction company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.39 by $0.73. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Dycom Industries had a return on equity of 22.15% and a net margin of 5.38%. Dycom Industries’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $1.73 earnings per share. Analysts predict that Dycom Industries will post 7.96 earnings per share for the current year.

Wall Street Analyst Weigh In

DY has been the topic of several research analyst reports. UBS Group raised their price objective on shares of Dycom Industries from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Craig Hallum raised their price objective on shares of Dycom Industries from $145.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. KeyCorp raised their price objective on shares of Dycom Industries from $169.00 to $179.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Bank of America raised their price objective on shares of Dycom Industries from $160.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Finally, Wells Fargo & Company raised their target price on Dycom Industries from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a hold rating, six have issued 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 an average target price of $191.71.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE lifted its holdings in shares of Dycom Industries by 109.3% during the fourth quarter. US Bancorp DE now owns 14,623 shares of the construction company’s stock valued at $1,683,000 after acquiring an additional 7,638 shares during the period. Cubic Asset Management LLC raised its holdings in shares of Dycom Industries by 171.6% in the fourth quarter. Cubic Asset Management LLC now owns 11,882 shares of the construction company’s stock valued at $1,367,000 after buying an additional 7,507 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Dycom Industries by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,183,646 shares of the construction company’s stock valued at $366,406,000 after buying an additional 42,121 shares during the last quarter. Peconic Partners LLC raised its holdings in shares of Dycom Industries by 0.7% in the fourth quarter. Peconic Partners LLC now owns 3,265,682 shares of the construction company’s stock valued at $375,847,000 after buying an additional 21,635 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Dycom Industries in the fourth quarter valued at about $6,623,000. 98.33% of the stock is owned by institutional investors.

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.