Daktronics (NASDAQ:DAKT) Trading 5.3% Higher – Here’s Why

Daktronics, Inc. (NASDAQ:DAKT)’s stock price was up 5.3% on Thursday . The company traded as high as $12.65 and last traded at $12.84. Approximately 61,789 shares changed hands during trading, a decline of 87% from the average daily volume of 462,582 shares. The stock had previously closed at $12.20.

Analyst Ratings Changes

Separately, Craig Hallum began coverage on shares of Daktronics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $26.00 price target on the stock.

Daktronics Price Performance

The firm has a market capitalization of $611.19 million, a price-to-earnings ratio of 51.92, a PEG ratio of 0.57 and a beta of 1.12. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $16.38 and a two-hundred day moving average price of $15.11.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings results on Wednesday, December 4th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.09). Daktronics had a net margin of 3.62% and a return on equity of 19.61%. As a group, research analysts forecast that Daktronics, Inc. will post 0.96 EPS for the current year.

Insider Buying and Selling at Daktronics

In other Daktronics news, CEO Reece A. Kurtenbach sold 8,048 shares of Daktronics stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $18.75, for a total transaction of $150,900.00. Following the sale, the chief executive officer now owns 469,727 shares of the company’s stock, valued at $8,807,381.25. The trade was a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Patrick Friel sold 2,244 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total value of $40,773.48. Following the transaction, the director now owns 87,573 shares of the company’s stock, valued at $1,591,201.41. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of Daktronics

Institutional investors have recently made changes to their positions in the stock. Money Concepts Capital Corp raised its holdings in Daktronics by 0.4% during the fourth quarter. Money Concepts Capital Corp now owns 150,724 shares of the technology company’s stock worth $2,541,000 after purchasing an additional 607 shares in the last quarter. Franklin Resources Inc. boosted its stake in Daktronics by 0.9% during the third quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company’s stock valued at $959,000 after buying an additional 654 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in Daktronics by 29.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company’s stock worth $71,000 after acquiring an additional 965 shares during the period. Quarry LP raised its position in Daktronics by 75.6% in the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after acquiring an additional 989 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Daktronics by 8.5% in the fourth quarter. Principal Financial Group Inc. now owns 22,413 shares of the technology company’s stock worth $378,000 after acquiring an additional 1,765 shares in the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Company Profile

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.