Dycom Industries Target of Unusually Large Options Trading (DY)

Dycom Industries, Inc. (NYSE:DY) was the recipient of some unusual options trading activity on Thursday. Traders acquired 5,509 call options on the stock. This represents an increase of approximately 1,346% compared to the typical volume of 381 call options.

Several large investors have recently bought and sold shares of the business. Alps Advisors Inc. grew its stake in shares of Dycom Industries by 0.3% in the second quarter. Alps Advisors Inc. now owns 5,126 shares of the construction company’s stock worth $459,000 after acquiring an additional 14 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Dycom Industries by 1.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 2,526 shares of the construction company’s stock worth $226,000 after purchasing an additional 44 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Dycom Industries by 6.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,298 shares of the construction company’s stock worth $116,000 after purchasing an additional 80 shares during the last quarter. Capstone Asset Management Co. lifted its position in shares of Dycom Industries by 3.8% during the 2nd quarter. Capstone Asset Management Co. now owns 2,448 shares of the construction company’s stock worth $219,000 after purchasing an additional 90 shares during the last quarter. Finally, Partnervest Advisory Services LLC lifted its position in shares of Dycom Industries by 2.8% during the 2nd quarter. Partnervest Advisory Services LLC now owns 3,501 shares of the construction company’s stock worth $313,000 after purchasing an additional 95 shares during the last quarter.

DY has been the subject of several research reports. Zacks Investment Research upgraded shares of Dycom Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 31st. Canaccord Genuity dropped their target price on shares of Dycom Industries from $120.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 31st. BidaskClub downgraded shares of Dycom Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Stephens lifted their target price on shares of Dycom Industries from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, November 16th. Finally, B. Riley reiterated a “buy” rating and issued a $119.00 target price (up previously from $98.00) on shares of Dycom Industries in a report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $109.40.

Dycom Industries (NYSE DY) opened at $109.41 on Friday. The company has a market cap of $3,321.90, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 2.13 and a beta of 1.37. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.16 and a quick ratio of 2.86. Dycom Industries has a 12 month low of $70.88 and a 12 month high of $110.64.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Monday, November 20th. The construction company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.09. The business had revenue of $756.20 million during the quarter, compared to the consensus estimate of $729.35 million. Dycom Industries had a net margin of 4.46% and a return on equity of 22.49%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.67 earnings per share. sell-side analysts forecast that Dycom Industries will post 4.09 EPS for the current year.

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About Dycom Industries

Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.

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