Daktronics (NASDAQ:DAKT) Reaches New 1-Year High – Here’s Why
by Jessica Moore · The Cerbat GemDaktronics, Inc. (NASDAQ:DAKT – Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $28.26 and last traded at $27.8690, with a volume of 220466 shares changing hands. The stock had previously closed at $27.50.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on DAKT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Daktronics in a research note on Monday, December 29th. Zacks Research downgraded Daktronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.
View Our Latest Research Report on Daktronics
Daktronics Price Performance
The firm has a market cap of $1.30 billion, a P/E ratio of 204.63, a PEG ratio of 0.80 and a beta of 1.73. The business’s fifty day simple moving average is $22.63 and its 200-day simple moving average is $20.35. The company has a current ratio of 2.23, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18.
Daktronics (NASDAQ:DAKT – Get Free Report) last announced its quarterly earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. Daktronics had a return on equity of 15.42% and a net margin of 0.96%.The company had revenue of $229.25 million during the quarter, compared to analysts’ expectations of $213.93 million. During the same period in the previous year, the business earned $0.27 earnings per share. As a group, analysts forecast that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.
Institutional Investors Weigh In On Daktronics
A number of institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. increased its position in shares of Daktronics by 7.0% during the 2nd quarter. American Century Companies Inc. now owns 1,619,937 shares of the technology company’s stock valued at $24,493,000 after purchasing an additional 105,313 shares during the last quarter. CSM Advisors LLC bought a new position in Daktronics during the second quarter valued at approximately $6,242,000. Versor Investments LP bought a new position in Daktronics during the third quarter valued at approximately $808,000. Campbell & CO Investment Adviser LLC raised its stake in shares of Daktronics by 190.4% during the second quarter. Campbell & CO Investment Adviser LLC now owns 32,132 shares of the technology company’s stock worth $486,000 after acquiring an additional 21,069 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Daktronics by 366.7% in the 3rd quarter. SG Americas Securities LLC now owns 97,923 shares of the technology company’s stock worth $2,049,000 after acquiring an additional 76,940 shares during the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.
Daktronics Company Profile
Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.
The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.