Dycom Industries, Inc. (NYSE:DY) Short Interest Up 21.7% in March
by Scott Moore · The Cerbat GemDycom Industries, Inc. (NYSE:DY – Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 1,483,989 shares, an increase of 21.7% from the March 15th total of 1,219,043 shares. Currently, 5.1% of the shares of the company are sold short. Based on an average daily volume of 423,790 shares, the days-to-cover ratio is presently 3.5 days.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on DY shares. Bank of America lifted their target price on shares of Dycom Industries from $365.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Wall Street Zen downgraded shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Dycom Industries in a research note on Wednesday, January 21st. JPMorgan Chase & Co. boosted their target price on shares of Dycom Industries from $395.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. Finally, Zacks Research upgraded Dycom Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Dycom Industries currently has an average rating of “Buy” and an average target price of $431.64.
Dycom Industries Trading Down 0.0%
Shares of Dycom Industries stock opened at $400.36 on Friday. Dycom Industries has a 12-month low of $149.38 and a 12-month high of $445.52. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 41.70, a PEG ratio of 0.93 and a beta of 1.38. The company has a current ratio of 2.74, a quick ratio of 2.61 and a debt-to-equity ratio of 1.51. The company’s 50-day moving average price is $382.38 and its 200-day moving average price is $348.11.
Dycom Industries (NYSE:DY – Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The construction company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.91 by $0.12. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%. Dycom Industries’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.17 earnings per share. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. On average, equities analysts expect that Dycom Industries will post 7.13 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Dycom Industries
Institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its position in Dycom Industries by 265,593,055.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company’s stock worth $8,076,953,000 after buying an additional 23,903,375 shares in the last quarter. Peconic Partners LLC raised its holdings in shares of Dycom Industries by 2.8% in the 2nd quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company’s stock valued at $933,038,000 after acquiring an additional 105,586 shares in the last quarter. Millennium Management LLC boosted its position in shares of Dycom Industries by 21.0% during the 3rd quarter. Millennium Management LLC now owns 1,324,938 shares of the construction company’s stock valued at $386,564,000 after acquiring an additional 229,579 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Dycom Industries by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company’s stock valued at $245,771,000 after acquiring an additional 53,993 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Dycom Industries by 3.4% during the fourth quarter. First Trust Advisors LP now owns 625,171 shares of the construction company’s stock worth $211,245,000 after purchasing an additional 20,306 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.
Dycom Industries Company Profile
Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.
Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.