Dycom Industries, Inc. (NYSE:DY) Sees Large Increase in Short Interest

Key Points

• Short interest rose 21.7% to 1,483,989 shares as of March 31, representing 5.1% of the stock and a short-interest ratio of 3.5 days.
• Earnings beat: Dycom reported $2.03 EPS vs. $1.91 expected and $1.46B revenue (up 34.4% YoY), and set Q1 2027 guidance of $2.57–$2.90 while analysts forecast roughly $7.13 for the fiscal year.
• Analyst and institutional sentiment: Multiple brokers raised price targets (e.g., B. Riley to $485, BofA to $475) and the consensus rating is "Buy" with a $431.64 target, and institutional investors own about 98.33% of shares.

Dycom Industries, Inc. (NYSE:DY - Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totaling 1,483,989 shares, a growth of 21.7% from the March 15th total of 1,219,043 shares. Based on an average daily volume of 423,790 shares, the short-interest ratio is presently 3.5 days. Currently, 5.1% of the shares of the stock are sold short.

Dycom Industries Stock Up 1.3%

Shares of NYSE DY opened at $400.30 on Friday. The firm's 50-day simple moving average is $382.40 and its 200 day simple moving average is $347.37. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 41.70, a price-to-earnings-growth ratio of 0.91 and a beta of 1.38. The company has a quick ratio of 2.61, a current ratio of 2.74 and a debt-to-equity ratio of 1.51. Dycom Industries has a 12-month low of $149.38 and a 12-month high of $445.52.

Dycom Industries (NYSE:DY - Get Free Report) last released its earnings results on Wednesday, March 4th. The construction company reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.12. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the company posted $1.17 EPS. The company's revenue was up 34.4% compared to the same quarter last year. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. On average, research analysts expect that Dycom Industries will post 7.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on DY. B. Riley Financial boosted their target price on shares of Dycom Industries from $420.00 to $485.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Vertical Research initiated coverage on shares of Dycom Industries in a research report on Tuesday, December 23rd. They set a "buy" rating and a $420.00 price target on the stock. Bank of America upped their price target on shares of Dycom Industries from $365.00 to $475.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Wall Street Zen downgraded shares of Dycom Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Dycom Industries from $395.00 to $415.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Dycom Industries has an average rating of "Buy" and a consensus target price of $431.64.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its position in Dycom Industries by 265,593,055.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,903,384 shares of the construction company's stock valued at $8,076,953,000 after purchasing an additional 23,903,375 shares during the period. Peconic Partners LLC lifted its position in Dycom Industries by 2.8% during the 2nd quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company's stock valued at $933,038,000 after purchasing an additional 105,586 shares during the period. Millennium Management LLC lifted its position in Dycom Industries by 21.0% during the 3rd quarter. Millennium Management LLC now owns 1,324,938 shares of the construction company's stock valued at $386,564,000 after purchasing an additional 229,579 shares during the period. Geode Capital Management LLC lifted its position in Dycom Industries by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 727,238 shares of the construction company's stock valued at $245,771,000 after purchasing an additional 53,993 shares during the period. Finally, First Trust Advisors LP lifted its position in Dycom Industries by 3.4% during the 4th quarter. First Trust Advisors LP now owns 625,171 shares of the construction company's stock valued at $211,245,000 after purchasing an additional 20,306 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

About Dycom Industries

Dycom Industries, Inc NYSE: DY is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom's services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom's customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.

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