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. Currently, 3.8% of the company’s shares are sold short. Based on an average daily volume of 388,700 shares, the days-to-cover ratio is presently 2.8 days.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DY. Hsbc Holdings PLC increased its position in shares of Dycom Industries by 193.7% during the 2nd quarter. Hsbc Holdings PLC now owns 7,819 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 5,157 shares during the last quarter. Stifel Financial Corp lifted its stake in Dycom Industries by 46.5% in the 3rd quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock valued at $3,988,000 after purchasing an additional 6,418 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in Dycom Industries during the third quarter worth about $773,000. Creative Planning increased its position in Dycom Industries by 19.2% during the third quarter. Creative Planning now owns 6,560 shares of the construction company’s stock worth $1,293,000 after buying an additional 1,055 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Dycom Industries by 32.0% in the second quarter. American Century Companies Inc. now owns 17,547 shares of the construction company’s stock valued at $2,961,000 after buying an additional 4,255 shares during the period. 98.33% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Stock Down 1.5 %

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

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.