Short Interest in Dycom Industries Grows By 40.6% (DY)
Dycom Industries (NYSE:DY) saw a significant growth in short interest in the month of May. As of May 30th, there was short interest totalling 1,368,054 shares, a growth of 40.6% from the May 15th total of 973,281 shares, Analyst Ratings News reports. Approximately 4.2% of the shares of the company are sold short. Based on an average daily volume of 335,154 shares, the short-interest ratio is presently 4.1 days.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated an “underperform” rating on shares of Dycom Industries in a research note on Friday, May 30th. They now have a $27.00 price target on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Dycom Industries from $33.00 to $35.00 in a research note on Thursday, May 22nd. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $32.36.
Shares of Dycom Industries (NYSE:DY) opened at 30.01 on Wednesday. Dycom Industries has a 52-week low of $22.27 and a 52-week high of $34.00. The stock’s 50-day moving average is $30.90 and its 200-day moving average is $29.62. The company has a market cap of $1.019 billion and a price-to-earnings ratio of 27.47.
Dycom Industries (NYSE:DY) last announced its earnings results on Tuesday, May 20th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.01. The company had revenue of $426.30 million for the quarter, compared to the consensus estimate of $429.56 million. During the same quarter last year, the company posted $0.21 earnings per share. Dycom Industries’s revenue was down 2.5% compared to the same quarter last year. Analysts expect that Dycom Industries will post $1.16 EPS for the current fiscal year.
Dycom Industries, Inc is a provider of specialty contracting services. The services, which are provided throughout the United States and in Canada, include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities and others.
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