Investors Purchase Large Volume of Call Options on Dycom Industries (DY)

Share on StockTwits

Dycom Industries, Inc. (NYSE:DY) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 3,262 call options on the company. This represents an increase of 1,021% compared to the typical volume of 291 call options.

DY has been the subject of a number of research analyst reports. Deutsche Bank set a $93.00 target price on Dycom Industries and gave the stock a “buy” rating in a research report on Thursday, August 30th. B. Riley downgraded Dycom Industries from a “buy” rating to a “neutral” rating and cut their target price for the stock from $120.00 to $75.00 in a research report on Monday, August 13th. Wells Fargo & Co cut their target price on Dycom Industries from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, August 30th. Stifel Nicolaus cut their target price on Dycom Industries from $126.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, May 23rd. Finally, Craig Hallum downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $100.50.

Several large investors have recently made changes to their positions in DY. Millennium Management LLC acquired a new stake in shares of Dycom Industries during the 4th quarter valued at $798,000. Global X Management Co. LLC lifted its position in shares of Dycom Industries by 190.2% during the 1st quarter. Global X Management Co. LLC now owns 6,352 shares of the construction company’s stock valued at $684,000 after acquiring an additional 4,163 shares during the last quarter. Atria Investments LLC lifted its position in shares of Dycom Industries by 24.0% during the 1st quarter. Atria Investments LLC now owns 5,876 shares of the construction company’s stock valued at $632,000 after acquiring an additional 1,136 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Dycom Industries during the 1st quarter valued at $114,000. Finally, American Century Companies Inc. lifted its position in shares of Dycom Industries by 87.9% during the 1st quarter. American Century Companies Inc. now owns 275,114 shares of the construction company’s stock valued at $29,611,000 after acquiring an additional 128,713 shares during the last quarter.

Shares of NYSE:DY opened at $82.24 on Thursday. Dycom Industries has a one year low of $67.15 and a one year high of $123.99. The firm has a market cap of $2.62 billion, a PE ratio of 29.86, a P/E/G ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.24 and a quick ratio of 3.09.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, August 29th. The construction company reported $1.05 EPS for the quarter, meeting analysts’ consensus estimates of $1.05. Dycom Industries had a return on equity of 12.07% and a net margin of 3.94%. The company had revenue of $799.50 million during the quarter, compared to the consensus estimate of $799.51 million. During the same quarter in the prior year, the firm earned $1.47 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. equities research analysts expect that Dycom Industries will post 2.82 EPS for the current year.

Dycom Industries announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 29th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 6.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services in the United States and Canada. 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.

Read More: Diversification in Your Portfolio

Receive News & Ratings for Dycom Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dycom Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply