Daktronics (NASDAQ:DAKT) Reaches New 1-Year High at $15.75

Daktronics, Inc. (NASDAQ:DAKT)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $15.75 and last traded at $15.65, with a volume of 82680 shares trading hands. The stock had previously closed at $15.13.

Analysts Set New Price Targets

Separately, StockNews.com cut Daktronics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th.

Daktronics Stock Performance

The company has a quick ratio of 1.37, a current ratio of 2.09 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $13.75 and a 200-day moving average price of $11.10. The firm has a market cap of $729.16 million, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 0.43 and a beta of 1.12.

Daktronics (NASDAQ:DAKT) last released its earnings results on Wednesday, June 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.13. Daktronics had a return on equity of 25.55% and a net margin of 4.23%. The company had revenue of $215.88 million for the quarter, compared to analysts’ expectations of $179.28 million. On average, analysts expect that Daktronics, Inc. will post 1.13 earnings per share for the current fiscal year.

Insider Activity at Daktronics

In related news, EVP Bradley T. Wiemann sold 1,839 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $14.66, for a total value of $26,959.74. Following the completion of the sale, the executive vice president now directly owns 108,743 shares in the company, valued at approximately $1,594,172.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Matthew John Kurtenbach sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.03, for a total value of $45,090.00. Following the completion of the sale, the vice president now directly owns 208,906 shares of the company’s stock, valued at approximately $3,139,857.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bradley T. Wiemann sold 1,839 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $14.66, for a total value of $26,959.74. Following the transaction, the executive vice president now directly owns 108,743 shares of the company’s stock, valued at $1,594,172.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,811 shares of company stock valued at $692,532. Insiders own 8.30% of the company’s stock.

Institutional Trading of Daktronics

Several institutional investors have recently modified their holdings of the company. Duquesne Family Office LLC lifted its stake in Daktronics by 20.3% during the second quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock valued at $34,786,000 after purchasing an additional 420,161 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Daktronics by 14.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,451,404 shares of the technology company’s stock worth $20,788,000 after acquiring an additional 305,597 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Daktronics by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,338,484 shares of the technology company’s stock worth $23,291,000 after acquiring an additional 41,076 shares during the last quarter. Progeny 3 Inc. raised its position in shares of Daktronics by 140.0% during the second quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock worth $25,039,000 after purchasing an additional 1,047,156 shares during the period. Finally, Breach Inlet Capital Management LLC purchased a new stake in shares of Daktronics during the fourth quarter valued at $11,508,000. Institutional investors and hedge funds own 61.69% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.