OP Asset Management Ltd Invests $2.13 Million in Daktronics, Inc. $DAKT

OP Asset Management Ltd acquired a new stake in Daktronics, Inc. (NASDAQ:DAKT) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 109,085 shares of the technology company’s stock, valued at approximately $2,133,000.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. grew its stake in Daktronics by 399.2% during the second quarter. Invesco Ltd. now owns 510,243 shares of the technology company’s stock worth $7,715,000 after purchasing an additional 408,037 shares during the period. Boston Partners acquired a new position in Daktronics in the fourth quarter valued at approximately $6,248,000. Breach Inlet Capital Management LLC lifted its stake in Daktronics by 32.8% in the fourth quarter. Breach Inlet Capital Management LLC now owns 1,272,552 shares of the technology company’s stock valued at $25,158,000 after buying an additional 314,133 shares during the period. Thrivent Financial for Lutherans bought a new position in shares of Daktronics during the 4th quarter worth approximately $5,364,000. Finally, AQR Capital Management LLC grew its position in shares of Daktronics by 322.5% during the 4th quarter. AQR Capital Management LLC now owns 314,874 shares of the technology company’s stock worth $6,225,000 after buying an additional 240,349 shares during the period. Institutional investors and hedge funds own 61.69% of the company’s stock.

Analysts Set New Price Targets

DAKT has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Zacks Research raised shares of Daktronics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Roth Mkm assumed coverage on shares of Daktronics in a report on Wednesday, June 10th. They issued a “buy” rating and a $26.00 price target for the company. Finally, Wall Street Zen raised shares of Daktronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Daktronics currently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

Daktronics Stock Performance

DAKT opened at $19.53 on Monday. Daktronics, Inc. has a fifty-two week low of $14.86 and a fifty-two week high of $28.27. The firm has a market capitalization of $942.91 million, a PE ratio of 21.46, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.31 and a quick ratio of 1.74. The company’s 50-day moving average is $19.88 and its 200 day moving average is $21.10.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Wednesday, June 24th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.07. The business had revenue of $208.61 million during the quarter, compared to the consensus estimate of $205.27 million. Daktronics had a return on equity of 17.62% and a net margin of 5.41%.During the same quarter in the previous year, the business earned ($0.19) EPS. As a group, research analysts predict that Daktronics, Inc. will post 1.3 earnings per share for the current fiscal year.

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.