Hillsdale Investment Management Inc. Purchases New Position in Daktronics, Inc. $DAKT

Hillsdale Investment Management Inc. purchased a new stake in shares of Daktronics, Inc. (NASDAQ:DAKT) in the 4th quarter, Holdings Channel reports. The fund purchased 150,120 shares of the technology company’s stock, valued at approximately $2,968,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in Daktronics during the 3rd quarter valued at about $25,000. Clearstead Advisors LLC bought a new position in Daktronics during the 4th quarter valued at about $57,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Daktronics by 204.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after purchasing an additional 2,045 shares during the last quarter. New York State Teachers Retirement System bought a new position in Daktronics during the 4th quarter valued at about $69,000. Finally, BNP Paribas Financial Markets lifted its holdings in Daktronics by 66.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,897 shares of the technology company’s stock valued at $59,000 after purchasing an additional 1,561 shares during the last quarter. 61.69% of the stock is owned by institutional investors.

Daktronics Stock Performance

DAKT opened at $20.68 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.68. The company has a market cap of $998.84 million, a price-to-earnings ratio of 37.60, a price-to-earnings-growth ratio of 0.57 and a beta of 1.66. The firm has a 50 day simple moving average of $19.85 and a 200 day simple moving average of $20.87. Daktronics, Inc. has a fifty-two week low of $13.05 and a fifty-two week high of $28.27.

Daktronics (NASDAQ:DAKT) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $181.00 million. Daktronics had a return on equity of 16.55% and a net margin of 3.43%. On average, sell-side analysts anticipate that Daktronics, Inc. will post 0.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Daktronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Zacks Research downgraded shares of Daktronics from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Finally, Weiss Ratings downgraded shares of Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

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.