Dycom Industries, Inc. (NYSE:DY) was the recipient of a significant growth in short interest in the month of November. As of November 29th, there was short interest totalling 2,720,000 shares, a growth of 6.7% from the November 14th total of 2,550,000 shares. Approximately 9.0% of the shares of the company are short sold. Based on an average daily volume of 357,300 shares, the days-to-cover ratio is currently 7.6 days.
Several hedge funds have recently added to or reduced their stakes in DY. Steward Partners Investment Advisory LLC purchased a new stake in Dycom Industries in the second quarter valued at approximately $58,000. Quest Capital Management Inc. ADV purchased a new stake in Dycom Industries in the third quarter valued at approximately $81,000. Public Employees Retirement System of Ohio raised its stake in Dycom Industries by 20.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,291 shares of the construction company’s stock valued at $135,000 after purchasing an additional 384 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Dycom Industries in the second quarter valued at approximately $145,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in Dycom Industries in the third quarter valued at approximately $220,000. Institutional investors own 95.89% of the company’s stock.
Shares of DY stock traded down $1.36 during trading hours on Friday, reaching $47.38. The stock had a trading volume of 405,367 shares, compared to its average volume of 447,492. The stock’s fifty day simple moving average is $49.67 and its 200 day simple moving average is $50.68. The company has a current ratio of 3.87, a quick ratio of 3.58 and a debt-to-equity ratio of 1.15. Dycom Industries has a 12 month low of $40.06 and a 12 month high of $64.49. The firm has a market capitalization of $1.49 billion, a PE ratio of 17.04, a PEG ratio of 2.39 and a beta of 1.39.
Dycom Industries (NYSE:DY) last released its quarterly earnings data on Tuesday, November 26th. The construction company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. Dycom Industries had a net margin of 1.68% and a return on equity of 9.87%. The company had revenue of $884.10 million during the quarter, compared to analyst estimates of $848.19 million. During the same period last year, the business earned $0.98 earnings per share. Dycom Industries’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Dycom Industries will post 2.48 EPS for the current fiscal year.
DY has been the subject of a number of research reports. B. Riley reiterated a “buy” rating and set a $60.00 target price on shares of Dycom Industries in a research report on Tuesday. Wells Fargo & Co increased their target price on shares of Dycom Industries from $52.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Dycom Industries has a consensus rating of “Hold” and an average price target of $59.86.
About Dycom Industries
Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.
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