Stock Traders Buy High Volume of Call Options on Dycom Industries (NYSE:DY)

Dycom Industries, Inc. (NYSE:DY) saw some unusual options trading activity on Monday. Investors purchased 4,387 call options on the stock. This is an increase of 1,099% compared to the typical daily volume of 366 call options.

Shares of DY opened at $46.73 on Tuesday. The company has a market capitalization of $1.61 billion, a PE ratio of 16.81, a PEG ratio of 2.57 and a beta of 1.39. Dycom Industries has a 12 month low of $40.06 and a 12 month high of $64.49. The stock’s 50-day moving average price is $49.91 and its two-hundred day moving average price is $50.78. The company has a current ratio of 3.87, a quick ratio of 3.58 and a debt-to-equity ratio of 1.15.

Dycom Industries (NYSE:DY) last issued its quarterly earnings results on Tuesday, November 26th. The construction company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.16. Dycom Industries had a return on equity of 9.87% and a net margin of 1.68%. The company had revenue of $884.10 million during the quarter, compared to analysts’ expectations of $848.19 million. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts predict that Dycom Industries will post 2.48 EPS for the current fiscal year.

DY has been the topic of a number of research reports. B. Riley reaffirmed a “buy” rating and set a $57.00 target price on shares of Dycom Industries in a research note on Tuesday, November 26th. Wells Fargo & Co upped their price target on shares of Dycom Industries from $52.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $59.43.

A number of large investors have recently added to or reduced their stakes in DY. Vanguard Group Inc. lifted its position in shares of Dycom Industries by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,853,694 shares of the construction company’s stock worth $167,996,000 after purchasing an additional 73,091 shares during the period. Northern Trust Corp lifted its holdings in Dycom Industries by 2.3% in the second quarter. Northern Trust Corp now owns 556,836 shares of the construction company’s stock valued at $32,780,000 after buying an additional 12,308 shares during the period. Russell Investments Group Ltd. lifted its holdings in Dycom Industries by 49.8% in the second quarter. Russell Investments Group Ltd. now owns 409,820 shares of the construction company’s stock valued at $24,120,000 after buying an additional 136,286 shares during the period. Investment Counselors of Maryland LLC lifted its holdings in Dycom Industries by 1.2% in the second quarter. Investment Counselors of Maryland LLC now owns 379,053 shares of the construction company’s stock valued at $22,315,000 after buying an additional 4,313 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Dycom Industries by 132.7% during the second quarter. Renaissance Technologies LLC now owns 352,700 shares of the construction company’s stock valued at $20,763,000 after acquiring an additional 201,100 shares during the last quarter. 95.89% of the stock is owned by institutional investors and hedge funds.

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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