Short Interest in Dycom Industries, Inc. (NYSE:DY) Rises By 6.9%

Dycom Industries, Inc. (NYSE:DY) saw a large growth in short interest in 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. Approximately 3.8% of the shares of the company are sold short. Based on an average daily volume of 388,700 shares, the short-interest ratio is currently 2.8 days.

Institutional Investors Weigh In On Dycom Industries

Several large investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its position in shares of Dycom Industries by 17.7% in the third quarter. Franklin Resources Inc. now owns 154,814 shares of the construction company’s stock worth $29,237,000 after buying an additional 23,270 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Dycom Industries during the third quarter worth approximately $100,000. Anchor Investment Management LLC increased its position 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 worth $53,000 after purchasing an additional 73 shares during the last quarter. SOA Wealth Advisors LLC. bought a new stake in Dycom Industries in the third quarter valued at about $39,000. Finally, Westside Investment Management Inc. acquired a new stake in shares of Dycom Industries during the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Bank of America upped their price target on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. DA Davidson reissued a “buy” rating and issued a $210.00 target price on shares of Dycom Industries in a report on Tuesday, November 19th. Wells Fargo & Company upped their price target on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 15th. KeyCorp raised their price target on shares of Dycom Industries from $200.00 to $227.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, B. Riley lifted 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. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $206.13.

Dycom Industries Trading Down 1.5 %

DY stock traded down $2.66 during trading on Tuesday, reaching $177.05. 546,477 shares of the stock traded hands, compared to its average volume of 312,561. The firm has a market capitalization of $5.17 billion, a PE ratio of 23.29, a P/E/G ratio of 1.45 and a beta of 1.41. Dycom Industries has a 52-week low of $107.53 and a 52-week high of $207.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.12 and a quick ratio of 2.93. The business’s 50 day moving average price is $186.53 and its 200-day moving average price is $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.