Dycom Industries, Inc. (NYSE:DY) Short Interest Up 32.5% in August

Key Points

• Dycom Industries, Inc. has seen a significant increase in short interest, rising by 32.5% to 1,220,000 shares as of August 31st, indicating a heightened bearish outlook among investors.
• The company reported earnings of $3.33 per share for the last quarter, exceeding estimates by $0.41, although revenue fell short of expectations at $1.38 billion.
• A number of analysts have upgraded Dycom's stock ratings, with price targets raised by firms such as UBS Group and Raymond James, now suggesting an average price target of $289.43.

Dycom Industries, Inc. (NYSE:DY - Get Free Report) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 1,220,000 shares, an increase of 32.5% from the August 15th total of 921,000 shares. Currently, 4.3% of the shares of the company are sold short. Based on an average trading volume of 361,100 shares, the short-interest ratio is currently 3.4 days. Based on an average trading volume of 361,100 shares, the short-interest ratio is currently 3.4 days. Currently, 4.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its position in shares of Dycom Industries by 9.7% during the second quarter. Osaic Holdings Inc. now owns 2,064 shares of the construction company's stock worth $501,000 after purchasing an additional 183 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Dycom Industries by 14.5% during the second quarter. Thrivent Financial for Lutherans now owns 24,528 shares of the construction company's stock worth $5,995,000 after purchasing an additional 3,098 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Dycom Industries during the 2nd quarter valued at approximately $699,000. Public Sector Pension Investment Board grew its holdings in Dycom Industries by 6.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 98,096 shares of the construction company's stock valued at $23,974,000 after buying an additional 5,529 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in Dycom Industries during the 2nd quarter valued at approximately $1,077,000. Institutional investors own 98.33% of the company's stock.

Dycom Industries Trading Down 0.4%

Shares of Dycom Industries stock traded down $1.00 during midday trading on Friday, reaching $269.71. 586,338 shares of the company's stock traded hands, compared to its average volume of 369,487. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.96 and a current ratio of 3.16. The company has a market cap of $7.81 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 1.29 and a beta of 1.18. The stock has a 50 day moving average of $261.25 and a 200-day moving average of $216.44. Dycom Industries has a 12 month low of $131.37 and a 12 month high of $285.64.

Dycom Industries (NYSE:DY - Get Free Report) last announced its earnings results on Wednesday, August 20th. The construction company reported $3.33 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.41. Dycom Industries had a return on equity of 21.17% and a net margin of 5.23%.The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company earned $2.46 earnings per share. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. Dycom Industries has set its FY 2026 guidance at EPS. Q3 2026 guidance at 3.030-3.36 EPS. As a group, equities analysts expect that Dycom Industries will post 7.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DY shares. Raymond James Financial raised their target price on Dycom Industries from $290.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 21st. Wells Fargo & Company raised their target price on Dycom Industries from $250.00 to $295.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. DA Davidson raised their target price on Dycom Industries from $265.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Wall Street Zen upgraded Dycom Industries from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, Zacks Research upgraded Dycom Industries to a "hold" rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Dycom Industries has an average rating of "Buy" and a consensus target price of $289.43.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.