Dycom Industries, Inc. (NYSE:DY) Short Interest Up 6.9% in November

Dycom Industries, Inc. (NYSE:DY) saw a significant growth in short interest during 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 short sold. Based on an average daily trading volume, of 388,700 shares, the days-to-cover ratio is presently 2.8 days.

Hedge Funds Weigh In On Dycom Industries

Several large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its holdings in shares of Dycom Industries by 193.7% during the second quarter. Hsbc Holdings PLC now owns 7,819 shares of the construction company’s stock valued at $1,317,000 after acquiring an additional 5,157 shares during the period. Whalen Wealth Management Inc. acquired a new position in Dycom Industries in the third quarter valued at about $773,000. Stifel Financial Corp grew its stake in Dycom Industries by 46.5% during the third quarter. Stifel Financial Corp now owns 20,232 shares of the construction company’s stock worth $3,988,000 after buying an additional 6,418 shares during the last quarter. Creative Planning increased its holdings in shares of Dycom Industries by 19.2% during the third quarter. Creative Planning now owns 6,560 shares of the construction company’s stock worth $1,293,000 after buying an additional 1,055 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Dycom Industries by 32.0% in the second quarter. American Century Companies Inc. now owns 17,547 shares of the construction company’s stock valued at $2,961,000 after acquiring an additional 4,255 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Performance

Shares of NYSE:DY traded down $2.66 during trading on Tuesday, reaching $177.05. The stock had a trading volume of 546,477 shares, compared to its average volume of 312,561. The stock has a fifty day simple moving average of $186.53 and a two-hundred day simple moving average of $181.93. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. Dycom Industries has a 52 week low of $107.53 and a 52 week high of $207.20. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 1.45 and a beta of 1.41.

Analysts Set New Price Targets

DY has been the topic of several analyst reports. B. Riley raised their price target on shares of Dycom Industries from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. DA Davidson reaffirmed a “buy” rating and set a $210.00 target price on shares of Dycom Industries in a research note on Tuesday, November 19th. Bank of America increased their price target on Dycom Industries from $198.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. KeyCorp lifted their price objective on shares of Dycom Industries from $200.00 to $227.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company increased their target price on shares of Dycom Industries from $200.00 to $215.00 and gave the company 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $206.13.

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.