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
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
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.
- Get a free copy of the StockNews.com research report on Dycom Industries (DY)
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