What Could Be Propelling Dycom Industries, Inc. to Decrease?

 What Could Be Propelling Dycom Industries, Inc. to Decrease?

In today’s session Dycom Industries, Inc. (DY) recorded an unusually high (520) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious DY decrease. With 520 contracts traded and 1264 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: DY161118P00085000 closed last at: $3.9 or 13.3% down. About 167,630 shares traded hands. Dycom Industries, Inc. (NYSE:DY) has risen 43.63% since March 14, 2016 and is uptrending. It has outperformed by 38.02% 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. The rating was reinitiated by Stifel Nicolaus on Tuesday, January 5 with “Buy”. The rating was maintained by FBR Capital with “Outperform” on Wednesday, November 25. The firm earned “Neutral” rating on Monday, November 9 by DA Davidson. Stifel Nicolaus maintained it with “Buy” rating and $86 target price in Friday, May 20 report. The firm has “Overweight” rating by Stephens given on Monday, April 11. The rating was maintained by FBR Capital with “Outperform” on Thursday, August 27. The stock of Dycom Industries, Inc. (NYSE:DY) has “Outperform” rating given on Thursday, August 25 by FBR Capital. DA Davidson upgraded the stock to “Buy” rating in Tuesday, December 15 report. Canaccord Genuity maintained Dycom Industries, Inc. (NYSE:DY) on Wednesday, May 11 with “Buy” rating.

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 Q2 2016. Its down 0.31, from 1.39 in 2016Q1. The ratio dived, 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.
First Washington, a Washington-based fund reported 44,600 shares. Insight Capital & holds 1.35% of its portfolio in Dycom Industries, Inc. (NYSE:DY) for 43,299 shares. Victory Inc has invested 0.02% of its portfolio in Dycom Industries, Inc. (NYSE:DY). Dupont Capital Corporation holds 0% or 720 shares in its portfolio. Amer reported 22,876 shares or 0% of all its holdings. Geode Capital Ltd Liability Corporation holds 207,396 shares or 0.01% of its portfolio. Capital Growth Management Limited Partnership holds 40,000 shares or 0.16% of its portfolio. C M Bidwell & Associates Ltd has 0.05% invested in the company for 2,155 shares. Cetera Advsrs has 0.04% invested in the company for 5,434 shares. Hodges Mngmt accumulated 32,000 shares or 0.14% of the stock. Tocqueville Asset L P reported 136,250 shares or 0.16% of all its holdings. First Personal Fincl Svcs has 0% invested in the company for 90 shares. Moreover, Lord Abbett And Co Ltd Company has 0.05% invested in Dycom Industries, Inc. (NYSE:DY) for 168,634 shares. Arizona State Retirement System accumulated 16,318 shares or 0.02% of the stock. One Trading L P holds 0% of its portfolio in Dycom Industries, Inc. (NYSE:DY) for 1,100 shares.

Insider Transactions: Since July 8, 2016, the stock had 0 buys, and 5 insider sales for $4.25 million net activity. HIGGINS PATRICIA sold $890,186 worth of stock. Roach Rebecca Brightly sold 1,000 shares worth $94,370. The insider COLEY STEPHEN C sold 4,675 shares worth $440,390. Vilsoet Richard B sold $2.68 million worth of stock. $145,627 worth of Dycom Industries, Inc. (NYSE:DY) was sold by Baxter Thomas G.

Dycom Industries, Inc. is a provider of specialty contracting services throughout the United States and in Canada. The company has a market cap of $2.54 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 21.16 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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