Dycom Industries, Inc. (NYSE:DY) Sees Large Growth in Short Interest

Dycom Industries, Inc. (NYSE:DY) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 1,483,989 shares, a growth of 21.7% from the March 15th total of 1,219,043 shares. Based on an average daily volume of 423,790 shares, the days-to-cover ratio is currently 3.5 days. Approximately 5.1% of the company’s stock are short sold.

Dycom Industries Stock Performance

Shares of NYSE DY opened at $400.36 on Friday. The firm’s 50-day moving average price is $382.38 and its 200-day moving average price is $348.50. The company has a quick ratio of 2.61, a current ratio of 2.74 and a debt-to-equity ratio of 1.51. The company has a market cap of $12.00 billion, a PE ratio of 41.70, a PEG ratio of 0.93 and a beta of 1.38. Dycom Industries has a 52-week low of $149.38 and a 52-week high of $445.52.

Dycom Industries (NYSE:DY) last announced its quarterly earnings results on Wednesday, March 4th. The construction company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.12. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.34 billion. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%. The business’s quarterly revenue was up 34.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 EPS. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. As a group, analysts anticipate that Dycom Industries will post 7.13 EPS for the current year.

Institutional Trading of Dycom Industries

A number of institutional investors have recently made changes to their positions in DY. Jones Financial Companies Lllp boosted its holdings in shares of Dycom Industries by 4,626.1% during the 1st quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock valued at $331,000 after acquiring an additional 2,128 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Dycom Industries by 7.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock valued at $10,622,000 after acquiring an additional 4,985 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Dycom Industries by 7.0% during the 2nd quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock valued at $55,508,000 after acquiring an additional 14,891 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Dycom Industries by 73.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after acquiring an additional 68 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Dycom Industries by 8.9% in the second quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock worth $547,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on DY shares. Wall Street Zen downgraded shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. Zacks Research raised shares of Dycom Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $436.00 price objective on shares of Dycom Industries in a research report on Friday, March 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Dycom Industries in a research report on Wednesday, January 21st. Finally, B. Riley Financial increased their price objective on shares of Dycom Industries from $420.00 to $485.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. One equities 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $431.64.

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.