Dycom Industries, Inc. (NYSE:DY) Short Interest Up 17.9% in December

Dycom Industries, Inc. (NYSE:DY – Get Rating) was the target of a significant growth in short interest during the month of December. As of December 30th, there was short interest totalling 1,320,000 shares, a growth of 17.9% from the December 15th total of 1,120,000 shares. Currently, 4.6% of the shares of the company are sold short. Based on an average daily trading volume, of 406,700 shares, the days-to-cover ratio is currently 3.2 days.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Craig Hallum set a $110.00 target price on Dycom Industries in a research note on Thursday, November 24th. Wells Fargo & Company dropped their target price on shares of Dycom Industries from $130.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, November 14th. StockNews.com cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a research note on Monday, November 28th. Finally, UBS Group set a $124.00 price target on shares of Dycom Industries in a research report on Thursday, November 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

Insider Transactions at Dycom Industries

In related news, Director Richard K. Sykes sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $92.35, for a total value of $184,700.00. Following the transaction, the director now directly owns 17,854 shares in the company, valued at approximately $1,648,816.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dycom Industries

A number of hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its stake in Dycom Industries by 50.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 335 shares of the construction company’s stock valued at $30,000 after buying an additional 113 shares in the last quarter. USA Financial Portformulas Corp acquired a new stake in shares of Dycom Industries in the 3rd quarter valued at $30,000. Credit Agricole S A bought a new stake in shares of Dycom Industries in the 3rd quarter worth about $33,000. Lazard Asset Management LLC acquired a new stake in shares of Dycom Industries during the 3rd quarter worth about $54,000. Finally, Assetmark Inc. lifted its holdings in Dycom Industries by 142.0% during the 2nd quarter. Assetmark Inc. now owns 714 shares of the construction company’s stock valued at $66,000 after purchasing an additional 419 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

Dycom Industries Stock Up 2.3 %

DY opened at $98.31 on Friday. The company has a market capitalization of $2.90 billion, a P/E ratio of 24.95 and a beta of 1.28. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.21 and a quick ratio of 2.98. The firm’s fifty day moving average price is $94.04 and its two-hundred day moving average price is $102.00. Dycom Industries has a fifty-two week low of $76.21 and a fifty-two week high of $122.13.

Dycom Industries (NYSE:DY – Get Rating) last released its quarterly earnings data on Tuesday, November 22nd. The construction company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.41. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $974.11 million. Dycom Industries had a net margin of 3.24% and a return on equity of 13.96%. On average, analysts anticipate that Dycom Industries will post 4.09 EPS for the current year.

About Dycom Industries

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Dycom Industries, Inc provides specialty contracting services in the United States. The company offers program management and engineering services; plans and designs aerial, underground, and buried fiber optic, copper, and coaxial cable systems; and construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.