Vanguard Group Inc. Sells 87,153 Shares of Daktronics, Inc. $DAKT

Vanguard Group Inc. decreased its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,299,082 shares of the technology company’s stock after selling 87,153 shares during the quarter. Vanguard Group Inc. owned 0.07% of Daktronics worth $65,223,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. HB Wealth Management LLC increased its holdings in shares of Daktronics by 20.4% during the 4th quarter. HB Wealth Management LLC now owns 43,769 shares of the technology company’s stock worth $865,000 after purchasing an additional 7,421 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Daktronics during the 4th quarter worth about $210,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Daktronics by 7.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,601 shares of the technology company’s stock worth $210,000 after purchasing an additional 707 shares during the period. CWM LLC increased its holdings in shares of Daktronics by 138.9% during the 4th quarter. CWM LLC now owns 6,094 shares of the technology company’s stock worth $120,000 after purchasing an additional 3,543 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Daktronics by 23.0% during the 4th quarter. Farther Finance Advisors LLC now owns 6,700 shares of the technology company’s stock worth $132,000 after purchasing an additional 1,255 shares during the period. Institutional investors own 61.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on DAKT. Wall Street Zen upgraded shares of Daktronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Zacks Research cut shares of Daktronics from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Daktronics Stock Performance

NASDAQ DAKT opened at $19.80 on Friday. The stock has a market cap of $956.34 million, a P/E ratio of 36.00, a PEG ratio of 0.56 and a beta of 1.67. The company’s 50-day simple moving average is $20.13 and its 200 day simple moving average is $20.82. Daktronics, Inc. has a twelve month low of $13.05 and a twelve month high of $28.27. The company has a quick ratio of 1.68, a current ratio of 2.22 and a debt-to-equity ratio of 0.19.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, March 4th. The technology company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.09). The business had revenue of $181.87 million during the quarter, compared to the consensus estimate of $181.00 million. Daktronics had a net margin of 3.43% and a return on equity of 16.55%. As a group, research analysts forecast that Daktronics, Inc. will post 0.94 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.