Daktronics (NASDAQ:DAKT) Trading Down 3.6% – Should You Sell?

Daktronics, Inc. (NASDAQ:DAKT) was down 3.6% on Wednesday . The company traded as low as $18.16 and last traded at $18.2350. Approximately 122,023 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 452,819 shares. The stock had previously closed at $18.91.

Analyst Upgrades and Downgrades

DAKT has been the subject of a number of recent analyst reports. Zacks Research lowered Daktronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Wall Street Zen upgraded shares of Daktronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 14th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Daktronics in a research note on Monday, December 15th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Daktronics currently has an average rating of “Hold” and a consensus target price of $26.00.

Daktronics Trading Down 2.3%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.71 and a current ratio of 2.23. The company’s 50 day simple moving average is $18.99 and its two-hundred day simple moving average is $18.04. The stock has a market cap of $900.90 million, a price-to-earnings ratio of 142.21, a price-to-earnings-growth ratio of 0.55 and a beta of 1.72.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The company had revenue of $229.25 million during the quarter, compared to analysts’ expectations of $213.93 million. Daktronics had a return on equity of 15.42% and a net margin of 0.96%.During the same quarter in the previous year, the firm earned $0.27 earnings per share. Research analysts expect that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.

Institutional Trading of Daktronics

Several large investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its stake in Daktronics by 42.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,369 shares of the technology company’s stock valued at $154,000 after buying an additional 2,201 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Daktronics in the third quarter valued at about $240,000. Caxton Associates LLP bought a new position in shares of Daktronics in the third quarter worth about $448,000. XTX Topco Ltd lifted its position in shares of Daktronics by 171.1% during the 3rd quarter. XTX Topco Ltd now owns 56,100 shares of the technology company’s stock worth $1,174,000 after purchasing an additional 35,409 shares during the last quarter. Finally, Virtus Advisers LLC boosted its stake in Daktronics by 204.2% during the 3rd quarter. Virtus Advisers LLC now owns 24,621 shares of the technology company’s stock valued at $515,000 after purchasing an additional 16,526 shares during the period. 61.69% of the stock is owned by institutional investors.

About Daktronics

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.