What’s Next for Dycom Industries, Inc. After Today’s Bullish Options Activity?

 What's Next for Dycom Industries, Inc. After Today's Bullish Options Activity?

In today’s session Dycom Industries, Inc. (DY) registered an unusually high (121) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious DY increase. With 121 contracts traded and 3204 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: DY161021C00090000 closed last at: $0.95 or 5% down. About 125,654 shares traded hands. Dycom Industries, Inc. (NYSE:DY) has risen 41.30% since March 4, 2016 and is uptrending. It has outperformed by 33.26% the S&P500.

Dycom Industries, Inc. (NYSE:DY) Ratings Coverage

Out of 5 analysts covering Dycom (NYSE:DY), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Dycom has been the topic of 9 analyst reports since August 27, 2015 according to StockzIntelligence Inc. On Thursday, August 25 the stock rating was maintained by FBR Capital with “Outperform”. The firm earned “Outperform” rating on Thursday, August 27 by FBR Capital. The stock of Dycom Industries, Inc. (NYSE:DY) earned “Outperform” rating by FBR Capital on Wednesday, November 25. Stephens initiated the shares of DY in a report on Monday, April 11 with “Overweight” rating. DA Davidson upgraded Dycom Industries, Inc. (NYSE:DY) rating on Tuesday, December 15. DA Davidson has “Buy” rating and $95 price target. DA Davidson downgraded the shares of DY in a report on Monday, November 9 to “Neutral” rating. Stifel Nicolaus maintained it with “Buy” rating and $86 target price in Friday, May 20 report. Canaccord Genuity maintained Dycom Industries, Inc. (NYSE:DY) on Wednesday, May 11 with “Buy” rating. The firm has “Buy” rating given on Tuesday, January 5 by Stifel Nicolaus.

According to Zacks Investment Research, “Dycom Industries, Inc. is a leading provider of specialty contracting services throughout the United States. These services include engineering, construction, maintenance and installation services to telecommunications providers, underground locating services to various utilities including telecommunications providers, and other construction and maintenance services to electric utilities and others.”

Insitutional Activity: The institutional sentiment decreased to 1.08 in 2016 Q2. Its down 0.31, from 1.39 in 2016Q1. The ratio dropped, as 24 funds sold all Dycom Industries, Inc. shares owned while 111 reduced positions. 70 funds bought stakes while 76 increased positions. They now own 29.21 million shares or 6.50% less from 31.24 million shares in 2016Q1.
Cypress Cap Lc (Wy) accumulated 0% or 55 shares. Columbia L L C Investment Mgmt owns 77,152 shares or 0.51% of their US portfolio. Icon Advisers Inc reported 47,000 shares or 0.29% of all its holdings. Gemmer Asset Management Lc, a California-based fund reported 174 shares. Belmont Glob Advisors last reported 10,000 shares in the company. The Minnesota-based Sawtooth Asset Mgmt has invested 0.38% in Dycom Industries, Inc. (NYSE:DY). Geode Cap Mgmt Llc reported 207,396 shares or 0.01% of all its holdings. Partnervest Advisory Services Ltd holds 0.23% or 5,144 shares in its portfolio. Proshare Advsrs Limited Liability Com holds 0.01% or 4,442 shares in its portfolio. Moreover, Hancock has 0.72% invested in Dycom Industries, Inc. (NYSE:DY) for 192,621 shares. Capital Fund Mgmt reported 17,049 shares or 0.01% of all its holdings. York Cap Mngmt Advsrs Limited Liability Corp owns 998,056 shares or 2.24% of their US portfolio. Engineers Gate Manager L P has 58,871 shares for 0.38% of their US portfolio. State Street accumulated 642,247 shares or 0.01% of the stock. Swiss Bank holds 0.01% or 55,800 shares in its portfolio.

Insider Transactions: Since July 8, 2016, the stock had 0 insider buys, and 5 selling transactions for $4.25 million net activity. Baxter Thomas G had sold 1,556 shares worth $145,627 on Friday, July 8. Vilsoet Richard B sold $2.68M worth of stock or 28,642 shares. HIGGINS PATRICIA also sold $890,186 worth of Dycom Industries, Inc. (NYSE:DY) on Friday, July 8. Roach Rebecca Brightly sold $94,370 worth of stock or 1,000 shares. The insider COLEY STEPHEN C sold $440,390.

Dycom Industries, Inc. is a provider of specialty contracting services throughout the United States and in Canada. The company has a market cap of $2.61 billion. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities. It has a 21.3 P/E ratio. The Firm provides the labor, tools and equipment necessary to design, engineer, locate, maintain, expand, install and upgrade the telecommunications infrastructure of its customers.

DY Company Profile

Dycom Industries, Inc., incorporated on August 7, 1969, is a well-known provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance, and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities. The Firm provides the labor, tools and equipment necessary to design, engineer, locate, maintain, expand, install and upgrade the telecommunications infrastructure of its customers. The Company’s subsidiaries include CertusView Technologies, LLC and Dycom Investments, Inc.

More notable recent Dycom Industries, Inc. (NYSE:DY) news were published by: Prnewswire.com which released: “Dycom Industries, Inc. Announces Release Of Fiscal 2016 Fourth Quarter Results …” on August 17, 2016, also Prnewswire.com with their article: “Dycom Industries, Inc. Files Amended Complaint Against Quanta Services, Inc …” published on May 05, 2016, Fool.com published: “Express Inc. Falls and Dycom Industries Inc. Soars as Stocks Rise” on May 25, 2016. More interesting news about Dycom Industries, Inc. (NYSE:DY) were released by: Prnewswire.com and their article: “Dycom Industries, Inc. to Present at the D.A. Davidson 15th Annual Engineering …” published on September 01, 2016 as well as Prnewswire.com‘s news article titled: “Dycom Industries, Inc. Announces Fiscal 2016 Fourth Quarter And Annual Results …” with publication date: August 23, 2016.

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