Short Interest in Dycom Industries, Inc. (NYSE:DY) Drops By 19.6%

Dycom Industries, Inc. (NYSE:DY) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 942,511 shares, a decline of 19.6% from the December 15th total of 1,172,890 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average daily volume of 760,084 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily volume of 760,084 shares, the days-to-cover ratio is presently 1.2 days. Approximately 3.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

DY has been the topic of several recent research reports. KeyCorp increased their price target on shares of Dycom Industries from $320.00 to $392.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Dycom Industries in a research report on Wednesday, October 8th. Wells Fargo & Company upped their price target on Dycom Industries from $315.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Bank of America lifted their price objective on Dycom Industries from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Finally, UBS Group increased their target price on shares of Dycom Industries from $373.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $379.67.

Dycom Industries Price Performance

Shares of NYSE:DY traded up $6.13 during trading on Monday, hitting $371.78. 500,844 shares of the company’s stock were exchanged, compared to its average volume of 505,033. The business’s 50-day simple moving average is $340.23 and its 200 day simple moving average is $295.11. The company has a market cap of $10.77 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 1.91 and a beta of 1.34. Dycom Industries has a 52-week low of $131.37 and a 52-week high of $379.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.09 and a quick ratio of 2.90.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, November 19th. The construction company reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.48. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.41 billion. Dycom Industries had a return on equity of 22.21% and a net margin of 5.75%.The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.68 EPS. Dycom Industries has set its Q4 2026 guidance at 1.620-1.970 EPS. As a group, equities analysts predict that Dycom Industries will post 7.13 EPS for the current year.

Insider Activity at Dycom Industries

In other news, Director Eitan Gertel sold 3,645 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $345.62, for a total value of $1,259,784.90. Following the transaction, the director owned 15,997 shares in the company, valued at $5,528,883.14. This represents a 18.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DY. Root Financial Partners LLC purchased a new stake in shares of Dycom Industries in the third quarter worth about $26,000. Optiver Holding B.V. grew its holdings in Dycom Industries by 57.1% during the 3rd quarter. Optiver Holding B.V. now owns 110 shares of the construction company’s stock valued at $32,000 after buying an additional 40 shares in the last quarter. CI Investments Inc. increased its stake in Dycom Industries by 259.4% in the 3rd quarter. CI Investments Inc. now owns 115 shares of the construction company’s stock worth $34,000 after acquiring an additional 83 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of Dycom Industries during the 3rd quarter worth approximately $37,000. Finally, UMB Bank n.a. boosted its position in shares of Dycom Industries by 57.3% during the 3rd quarter. UMB Bank n.a. now owns 129 shares of the construction company’s stock valued at $38,000 after acquiring an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

About Dycom Industries

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.