Dycom Industries Target of Unusually Large Options Trading (NYSE:DY)

Dycom Industries, Inc. (NYSE:DY) was the recipient of some unusual options trading on Wednesday. Investors bought 2,438 call options on the company. This represents an increase of approximately 860% compared to the typical daily volume of 254 call options.

DY stock opened at $98.97 on Friday. Dycom Industries has a 52-week low of $61.50 and a 52-week high of $105.28. The stock’s fifty day simple moving average is $77.54 and its 200-day simple moving average is $75.73. The company has a quick ratio of 3.15, a current ratio of 3.30 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 64.27 and a beta of 1.59.

Dycom Industries (NYSE:DY) last issued its earnings results on Tuesday, November 23rd. The construction company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.26. The business had revenue of $854.00 million for the quarter, compared to analyst estimates of $815.89 million. Dycom Industries had a return on equity of 5.95% and a net margin of 1.59%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $1.06 EPS. As a group, analysts anticipate that Dycom Industries will post 1.35 earnings per share for the current fiscal year.

A number of equities research analysts have commented on DY shares. B. Riley increased their target price on Dycom Industries from $86.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp increased their target price on Dycom Industries from $104.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday. DA Davidson raised their price objective on Dycom Industries from $85.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company raised their price objective on Dycom Industries from $85.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Zacks Investment Research cut Dycom Industries from a “hold” rating to a “sell” rating and set a $74.00 price objective on the stock. in a report on Wednesday, August 4th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $109.17.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Dycom Industries by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,467,093 shares of the construction company’s stock worth $104,518,000 after buying an additional 8,056 shares during the period. American Century Companies Inc. raised its position in Dycom Industries by 17.2% in the third quarter. American Century Companies Inc. now owns 1,323,873 shares of the construction company’s stock valued at $94,313,000 after purchasing an additional 193,812 shares during the period. Peconic Partners LLC raised its position in Dycom Industries by 12.9% in the third quarter. Peconic Partners LLC now owns 1,099,227 shares of the construction company’s stock valued at $78,309,000 after purchasing an additional 125,843 shares during the period. State Street Corp raised its position in Dycom Industries by 1.1% in the second quarter. State Street Corp now owns 928,670 shares of the construction company’s stock valued at $69,214,000 after purchasing an additional 9,680 shares during the period. Finally, Principal Financial Group Inc. raised its position in Dycom Industries by 2.1% in the third quarter. Principal Financial Group Inc. now owns 781,450 shares of the construction company’s stock valued at $55,670,000 after purchasing an additional 16,376 shares during the period. 92.20% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Company Profile

Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.

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