Federated Hermes Inc. Increases Stock Position in Daktronics, Inc. $DAKT

Federated Hermes Inc. grew its position in shares of Daktronics, Inc. (NASDAQ:DAKT) by 38.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,266 shares of the technology company’s stock after purchasing an additional 28,612 shares during the period. Federated Hermes Inc. owned approximately 0.21% of Daktronics worth $2,139,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in Daktronics by 0.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 77,264 shares of the technology company’s stock valued at $1,503,000 after buying an additional 665 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Daktronics during the 3rd quarter valued at approximately $43,000. SG Americas Securities LLC grew its holdings in shares of Daktronics by 366.7% in the third quarter. SG Americas Securities LLC now owns 97,923 shares of the technology company’s stock valued at $2,049,000 after purchasing an additional 76,940 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Daktronics by 12.5% in the third quarter. Harbor Capital Advisors Inc. now owns 9,902 shares of the technology company’s stock worth $207,000 after purchasing an additional 1,097 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in Daktronics during the third quarter valued at $261,000. 61.69% of the stock is owned by institutional investors.

Daktronics Stock Performance

Shares of DAKT stock opened at $24.03 on Thursday. The business’s fifty day simple moving average is $20.24 and its 200-day simple moving average is $19.28. 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, Inc. has a 12-month low of $10.24 and a 12-month high of $24.96. The company has a market cap of $1.17 billion, a PE ratio of 184.86, a PEG ratio of 0.71 and a beta of 1.73.

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

Analyst Ratings Changes

Several research firms have commented on DAKT. Weiss Ratings reiterated a “hold (c)” rating on shares of Daktronics in a research report on Monday, December 29th. Zacks Research raised shares of Daktronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

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.