Stock Traders Purchase High Volume of Call Options on Dycom Industries (DY)

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

DY has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Dycom Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 31st. Stephens lifted their price objective on shares of Dycom Industries from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. KeyCorp reissued a “buy” rating and set a $118.00 target price on shares of Dycom Industries in a research note on Thursday, December 21st. Deutsche Bank initiated coverage on shares of Dycom Industries in a research note on Tuesday, September 26th. They set a “buy” rating and a $103.00 target price for the company. Finally, B. Riley reissued a “buy” rating and set a $119.00 target price (up previously from $98.00) on shares of Dycom Industries in a research note on Friday, November 17th. 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 company presently has an average rating of “Buy” and a consensus target price of $115.10.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pier Capital LLC purchased a new stake in Dycom Industries during the 2nd quarter valued at about $5,593,000. Vanguard Group Inc. grew its stake in Dycom Industries by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,454,547 shares of the construction company’s stock valued at $219,732,000 after acquiring an additional 17,420 shares in the last quarter. Argent Capital Management LLC purchased a new stake in Dycom Industries during the 2nd quarter valued at about $376,000. Castleark Management LLC purchased a new stake in Dycom Industries during the 2nd quarter valued at about $10,984,000. Finally, Wellington Shields Capital Management LLC purchased a new stake in Dycom Industries during the 3rd quarter valued at about $966,000.

Shares of Dycom Industries (DY) opened at $112.93 on Friday. The company has a market cap of $3,490.00, a PE ratio of 26.70, a PEG ratio of 2.23 and a beta of 1.38. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.86 and a current ratio of 3.16. Dycom Industries has a one year low of $73.95 and a one year high of $115.38.

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