Key Points
- Insider sale: Daktronics insider Sheila Mae Anderson sold 3,636 shares on July 1 at an average price of $20.01, totaling about $72,756. The transaction reduced her ownership by 6.99%.
- Recent earnings beat: The company reported quarterly EPS of $0.27, topping analyst expectations of $0.20, on revenue of $208.61 million versus estimates of $205.27 million. Daktronics also swung from a loss in the same quarter last year to positive earnings.
- Analyst and investor sentiment: Wall Street currently has a Hold consensus on the stock with an average price target of $29.00, while institutional investors own 61.69% of shares. Recent analyst moves included upgrades from Roth Mkm and Wall Street Zen.
Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) insider Sheila Mae Anderson sold 3,636 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $20.01, for a total value of $72,756.36. Following the transaction, the insider directly owned 48,371 shares in the company, valued at $967,903.71. This trade represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
Daktronics Price Performance
Shares of NASDAQ DAKT opened at $19.91 on Friday. The stock has a market cap of $961.35 million, a P/E ratio of 21.88, a P/E/G ratio of 0.61 and a beta of 1.67. The firm's 50-day simple moving average is $19.93 and its 200 day simple moving average is $21.11. Daktronics, Inc. has a fifty-two week low of $15.59 and a fifty-two week high of $28.27. The company has a quick ratio of 1.74, a current ratio of 2.31 and a debt-to-equity ratio of 0.18.
Daktronics (NASDAQ:DAKT - Get Free Report) last released its earnings results on Wednesday, June 24th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.20 by $0.07. The firm had revenue of $208.61 million for the quarter, compared to analysts' expectations of $205.27 million. Daktronics had a net margin of 5.41% and a return on equity of 17.62%. During the same quarter last year, the company earned ($0.19) EPS. Equities analysts expect that Daktronics, Inc. will post 1.3 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. Weiss Ratings upgraded shares of Daktronics from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 25th. Roth Mkm upped their target price on Daktronics from $26.00 to $29.00 and gave the stock a "buy" rating in a research report on Thursday. Zacks Research upgraded Daktronics from a "strong sell" rating to a "hold" rating in a research report on Monday, June 15th. Finally, Wall Street Zen raised Daktronics from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $29.00.
View Our Latest Research Report on Daktronics
Institutional Investors Weigh In On Daktronics
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Daktronics in the 3rd quarter worth approximately $540,000. American Century Companies Inc. raised its holdings in shares of Daktronics by 2.8% in the 3rd quarter. American Century Companies Inc. now owns 1,664,668 shares of the technology company's stock worth $34,825,000 after purchasing an additional 44,731 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Daktronics during the fourth quarter valued at approximately $2,968,000. OP Asset Management Ltd acquired a new stake in Daktronics during the first quarter valued at approximately $2,133,000. Finally, UBS Group AG boosted its holdings in Daktronics by 41.2% during the fourth quarter. UBS Group AG now owns 150,669 shares of the technology company's stock worth $2,979,000 after buying an additional 43,949 shares in the last quarter. 61.69% of the stock is currently owned by institutional investors.
About Daktronics
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
