Dycom Industries Target of Unusually Large Options Trading (DY)

Dycom Industries, Inc. (NYSE:DY) was the target of unusually large options trading on Tuesday. Stock investors purchased 1,147 put options on the company. This is an increase of 952% compared to the typical daily volume of 109 put options.

A number of equities analysts have recently issued reports on the company. Canaccord Genuity reduced their price target on Dycom Industries from $84.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, February 28th. They noted that the move was a valuation call. Zacks Investment Research raised Dycom Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 30th. B. Riley raised Dycom Industries from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $84.00 to $60.00 in a research report on Wednesday, February 27th. ValuEngine raised Dycom Industries from a “sell” rating to a “hold” rating in a research report on Saturday, May 4th. Finally, Deutsche Bank upped their target price on Dycom Industries from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $72.50.

NYSE DY opened at $54.40 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 3.52 and a current ratio of 3.85. Dycom Industries has a 1 year low of $41.78 and a 1 year high of $100.76. The firm has a market capitalization of $1.46 billion, a P/E ratio of 19.57, a PEG ratio of 2.82 and a beta of 1.45.

Dycom Industries (NYSE:DY) last released its earnings results on Tuesday, May 21st. The construction company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. Dycom Industries had a return on equity of 11.24% and a net margin of 2.01%. The firm had revenue of $883.70 million for the quarter, compared to the consensus estimate of $771.90 million. During the same period in the prior year, the firm earned $0.65 EPS. The firm’s revenue was up 20.8% on a year-over-year basis. On average, analysts expect that Dycom Industries will post 2.55 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Campbell Newman Asset Management Inc. boosted its holdings in Dycom Industries by 2.4% in the first quarter. Campbell Newman Asset Management Inc. now owns 8,994 shares of the construction company’s stock valued at $413,000 after purchasing an additional 214 shares during the last quarter. Bank of Montreal Can boosted its holdings in Dycom Industries by 17.1% in the fourth quarter. Bank of Montreal Can now owns 1,686 shares of the construction company’s stock valued at $91,000 after purchasing an additional 246 shares during the last quarter. Arizona State Retirement System boosted its holdings in Dycom Industries by 1.3% in the fourth quarter. Arizona State Retirement System now owns 22,463 shares of the construction company’s stock valued at $1,214,000 after purchasing an additional 284 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Dycom Industries by 24.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,476 shares of the construction company’s stock valued at $80,000 after purchasing an additional 288 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Dycom Industries by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,201 shares of the construction company’s stock valued at $119,000 after purchasing an additional 307 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

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Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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