Daktronics (NASDAQ:DAKT) Announces Earnings Results

Daktronics (NASDAQ:DAKT) released its earnings results on Wednesday. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.09, Zacks reports. Daktronics had a positive return on equity of 15.29% and a negative net margin of 1.34%.

Daktronics Stock Performance

DAKT stock opened at $17.43 on Wednesday. The company has a market cap of $856.18 million, a P/E ratio of -39.61, a price-to-earnings-growth ratio of 0.58 and a beta of 1.69. Daktronics has a twelve month low of $10.24 and a twelve month high of $19.89. The company has a quick ratio of 1.60, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average is $16.73 and its 200-day moving average is $14.68.

Insider Buying and Selling

In related news, insider Sheila Mae Anderson sold 3,839 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $16.86, for a total value of $64,725.54. Following the completion of the transaction, the insider directly owned 39,495 shares in the company, valued at approximately $665,885.70. The trade was a 8.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.30% of the company’s stock.

Institutional Trading of Daktronics

Several hedge funds and other institutional investors have recently modified their holdings of DAKT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Daktronics by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company’s stock valued at $295,000 after purchasing an additional 1,476 shares during the period. Empowered Funds LLC raised its stake in shares of Daktronics by 2.1% during the 1st quarter. Empowered Funds LLC now owns 242,535 shares of the technology company’s stock worth $2,954,000 after purchasing an additional 4,926 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Daktronics by 31.4% during the 2nd quarter. Rhumbline Advisers now owns 76,152 shares of the technology company’s stock worth $1,151,000 after purchasing an additional 18,202 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake 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 purchasing an additional 2,045 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Daktronics by 399.2% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Daktronics from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $26.00.

About Daktronics

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays 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.