Daktronics (NASDAQ:DAKT) Trading Up 8.8% – Still a Buy?

Daktronics, Inc. (NASDAQ:DAKT) shares were up 8.8% during trading on Thursday . The company traded as high as $21.86 and last traded at $20.82. Approximately 184,713 shares changed hands during trading, a decline of 58% from the average daily volume of 441,856 shares. The stock had previously closed at $19.13.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DAKT shares. Roth Mkm started coverage on shares of Daktronics in a research report on Wednesday. They set a “buy” rating and a $26.00 price objective on the stock. Zacks Research downgraded shares of Daktronics from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Weiss Ratings downgraded shares of Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. Finally, Wall Street Zen raised shares of Daktronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.00.

Daktronics Price Performance

The company has a quick ratio of 1.68, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.01 billion, a P/E ratio of 37.92, a P/E/G ratio of 0.54 and a beta of 1.66. The company’s 50-day simple moving average is $19.73 and its 200 day simple moving average is $20.94.

Institutional Trading of Daktronics

Large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Daktronics in the third quarter worth approximately $25,000. Cornerstone Planning Group LLC bought a new stake in shares of Daktronics during the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Daktronics by 22,566.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock worth $27,000 after buying an additional 1,354 shares during the period. Clearstead Advisors LLC bought a new stake in shares of Daktronics during the 4th quarter worth $57,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Daktronics by 204.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock worth $46,000 after buying an additional 2,045 shares during the period. 61.69% of the stock is owned by 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.