Dycom Industries Target of Unusually High Options Trading (NYSE:DY)

Dycom Industries, Inc. (NYSE:DY) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 3,104 call options on the stock. This is an increase of 2,086% compared to the average volume of 142 call options.

Shares of NYSE:DY opened at $47.14 on Wednesday. The company’s 50 day moving average price is $47.12 and its two-hundred day moving average price is $49.06. Dycom Industries has a 12-month low of $40.06 and a 12-month high of $64.49. The firm has a market cap of $1.45 billion, a PE ratio of 26.63, a PEG ratio of 2.31 and a beta of 1.38. The company has a quick ratio of 3.58, a current ratio of 3.87 and a debt-to-equity ratio of 1.15.

Dycom Industries (NYSE:DY) last announced its earnings results on Tuesday, November 26th. The construction company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.16. Dycom Industries had a net margin of 1.68% and a return on equity of 9.87%. The firm had revenue of $884.10 million for the quarter, compared to analyst estimates of $848.19 million. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. On average, research analysts expect that Dycom Industries will post 2.48 EPS for the current year.

Several large investors have recently made changes to their positions in DY. Quest Capital Management Inc. ADV acquired a new position in shares of Dycom Industries during the 3rd quarter worth approximately $81,000. Public Employees Retirement System of Ohio grew its position in shares of Dycom Industries by 20.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,291 shares of the construction company’s stock worth $135,000 after purchasing an additional 384 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Dycom Industries during the 2nd quarter worth approximately $145,000. Virginia Retirement Systems ET AL acquired a new position in shares of Dycom Industries during the 3rd quarter worth approximately $220,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Dycom Industries during the 3rd quarter worth approximately $235,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Separately, B. Riley reissued a “buy” rating and issued a $60.00 price target on shares of Dycom Industries in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $59.86.

About Dycom Industries

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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