Dycom Industries, Inc. (NYSE:DY) Short Interest Up 29.9% in December

Dycom Industries, Inc. (NYSE:DY) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 1,740,000 shares, a growth of 29.9% from the December 15th total of 1,340,000 shares. Approximately 6.2% of the shares of the stock are sold short. Based on an average daily volume of 439,300 shares, the short-interest ratio is currently 4.0 days.

Dycom Industries Trading Up 0.3 %

Shares of NYSE:DY traded up $0.61 on Friday, hitting $190.54. The company had a trading volume of 408,348 shares, compared to its average volume of 385,641. Dycom Industries has a 1 year low of $109.87 and a 1 year high of $207.20. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The firm’s 50-day simple moving average is $181.84 and its two-hundred day simple moving average is $182.50. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 1.63 and a beta of 1.43.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. KeyCorp raised their price target on Dycom Industries from $227.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Wells Fargo & Company raised their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, DA Davidson reissued a “buy” rating and set a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $206.38.

Insider Buying and Selling at Dycom Industries

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

Institutional Trading of Dycom Industries

Large investors have recently bought and sold shares of the company. Accent Capital Management LLC purchased a new stake in shares of Dycom Industries in the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in Dycom Industries during the third quarter worth about $28,000. Annapolis Financial Services LLC purchased a new stake in Dycom Industries in the third quarter worth about $29,000. Anchor Investment Management LLC increased its stake in shares of Dycom Industries by 50.4% during the second quarter. Anchor Investment Management LLC now owns 194 shares of the construction company’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of Dycom Industries during the third quarter valued at approximately $39,000. 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.