Daktronics (NASDAQ:DAKT) Sets New 12-Month High – Here’s What Happened

Daktronics, Inc. (NASDAQ:DAKT)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $26.75 and last traded at $25.93, with a volume of 1801472 shares traded. The stock had previously closed at $25.41.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of Daktronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Daktronics in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Daktronics has an average rating of “Buy”.

Daktronics Stock Performance

The stock has a market cap of $1.26 billion, a PE ratio of 199.48, a P/E/G ratio of 0.74 and a beta of 1.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.23 and a quick ratio of 1.71. The stock has a 50-day simple moving average of $20.61 and a 200-day simple moving average of $19.49.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings data 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. The business had revenue of $229.25 million for the quarter, compared to analyst estimates of $213.93 million. Daktronics had a return on equity of 15.42% and a net margin of 0.96%.During the same period in the previous year, the company posted $0.27 EPS. Equities analysts predict that Daktronics, Inc. will post 0.96 earnings per share for the current fiscal year.

Institutional Trading of Daktronics

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Daktronics in the third quarter valued at about $25,000. State of Alaska Department of Revenue acquired a new position in Daktronics during the 3rd quarter worth approximately $43,000. Clearstead Advisors LLC acquired a new position in Daktronics during the 4th quarter worth approximately $57,000. Northwestern Mutual Wealth Management Co. grew its position in Daktronics by 204.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after acquiring an additional 2,045 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in Daktronics in the fourth quarter valued at approximately $69,000. 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.