Dycom Industries Target of Unusually Large Options Trading (DY)

Dycom Industries, Inc. (NYSE:DY) was the target of some unusual options trading activity on Wednesday. Stock investors acquired 5,561 call options on the stock. This is an increase of approximately 2,276% compared to the average volume of 234 call options.

Shares of Dycom Industries (NYSE DY) opened at $112.93 on Friday. The company has a market cap of $3,490.00, a PE ratio of 26.70, a P/E/G ratio of 2.23 and a beta of 1.38. Dycom Industries has a fifty-two week low of $73.95 and a fifty-two week high of $115.38. The company has a current ratio of 3.16, a quick ratio of 2.86 and a debt-to-equity ratio of 1.07.

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

A number of institutional investors and hedge funds have recently made changes to their positions in DY. SG Capital Management LLC acquired a new position in Dycom Industries during the third quarter worth about $15,925,000. Castleark Management LLC acquired a new position in shares of Dycom Industries in the second quarter valued at approximately $10,984,000. American Century Companies Inc. raised its position in shares of Dycom Industries by 50.4% in the third quarter. American Century Companies Inc. now owns 270,572 shares of the construction company’s stock valued at $23,237,000 after buying an additional 90,723 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Dycom Industries by 12.2% in the third quarter. Wells Fargo & Company MN now owns 783,436 shares of the construction company’s stock valued at $67,282,000 after buying an additional 85,079 shares during the last quarter. Finally, Caxton Associates LP acquired a new position in shares of Dycom Industries in the second quarter valued at approximately $6,714,000.

A number of analysts recently commented on DY shares. Deutsche Bank started coverage on shares of Dycom Industries in a report on Tuesday, September 26th. They set a “buy” rating and a $103.00 price objective on the stock. Craig Hallum reissued a “buy” rating and set a $114.00 price objective (up previously from $90.00) on shares of Dycom Industries in a report on Tuesday, November 21st. Stifel Nicolaus reissued a “buy” rating and set a $126.00 price objective (up previously from $120.00) on shares of Dycom Industries in a report on Monday, December 11th. B. Riley reissued a “buy” rating on shares of Dycom Industries in a report on Wednesday, November 1st. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $109.00 price objective (up previously from $88.00) on shares of Dycom Industries in a report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $115.10.

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Dycom Industries Company Profile

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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