Daktronics (NASDAQ:DAKT) Hits New 12-Month High – Still a Buy?

Daktronics, Inc. (NASDAQ:DAKT)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $16.05 and last traded at $16.01, with a volume of 325480 shares trading hands. The stock had previously closed at $15.40.

Wall Street Analysts Forecast Growth

DAKT has been the topic of several recent analyst reports. Singular Research raised Daktronics to a “strong-buy” rating in a research report on Monday, September 9th. StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th.

Daktronics Stock Up 3.8 %

The business has a fifty day moving average price of $13.75 and a two-hundred day moving average price of $13.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48. The firm has a market capitalization of $741.01 million, a price-to-earnings ratio of 192.50, a price-to-earnings-growth ratio of 0.57 and a beta of 1.14.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. The business had revenue of $226.09 million for the quarter, compared to analyst estimates of $216.84 million. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. On average, equities analysts expect that Daktronics, Inc. will post 0.89 earnings per share for the current year.

Insider Activity

In related news, EVP Bradley T. Wiemann sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the sale, the executive vice president now directly owns 85,446 shares of the company’s stock, valued at $1,101,398.94. This trade represents a 22.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Matthew John Kurtenbach sold 15,400 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total value of $204,512.00. Following the sale, the vice president now directly owns 2,500 shares in the company, valued at approximately $33,200. This trade represents a 86.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Daktronics

Hedge funds have recently bought and sold shares of the business. Quarry LP boosted its position in Daktronics by 75.6% during the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after purchasing an additional 989 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Daktronics by 92.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,108 shares in the last quarter. CWM LLC boosted its position in Daktronics by 31.4% during the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after purchasing an additional 872 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Daktronics by 150.0% in the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock valued at $56,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Virtus Fund Advisers LLC purchased a new position in shares of Daktronics in the third quarter valued at approximately $75,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.