Dycom Industries, Inc. (NYSE:DY) Short Interest Up 15.8% in January

Dycom Industries, Inc. (NYSE:DY) saw a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,980,000 shares, a growth of 15.8% from the January 15th total of 1,710,000 shares. Based on an average daily volume of 472,800 shares, the short-interest ratio is currently 4.2 days. Approximately 7.1% of the company’s stock are short sold.

Analysts Set New Price Targets

Several analysts have commented on the stock. KeyCorp upped their target price on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Raymond James upped their price objective on Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 4th. DA Davidson restated a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. Finally, Wells Fargo & Company boosted their target price on Dycom Industries from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One 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. According to data from MarketBeat.com, Dycom Industries presently has an average rating of “Buy” and a consensus price target of $208.88.

Dycom Industries Stock Performance

DY stock traded down $7.53 during trading hours on Monday, hitting $177.89. 391,600 shares of the stock were exchanged, compared to its average volume of 386,208. Dycom Industries has a 12 month low of $112.50 and a 12 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 $5.19 billion, a P/E ratio of 23.41, a P/E/G ratio of 1.51 and a beta of 1.42. The company has a 50-day simple moving average of $182.85 and a two-hundred day simple moving average of $184.56.

Insider Activity

In other Dycom Industries news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $173.11, for a total value of $74,437.30. Following the completion of the transaction, the director now owns 8,873 shares in the company, valued at approximately $1,536,005.03. The trade was a 4.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $175.08, for a total value of $507,732.00. Following the completion of the sale, the director now owns 14,533 shares of the company’s stock, valued at approximately $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. 4.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dycom Industries

Several institutional investors have recently made changes to their positions in the stock. Accent Capital Management LLC acquired a new position in shares of Dycom Industries in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in Dycom Industries in the third quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new position in Dycom Industries during the third quarter valued at approximately $39,000. Westside Investment Management Inc. bought a new stake in Dycom Industries during the third quarter worth $41,000. Finally, Anchor Investment Management LLC boosted its holdings in shares of Dycom Industries by 37.6% in the 3rd quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock valued at $53,000 after purchasing an additional 73 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries Company Profile

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.