Daktronics (NASDAQ:DAKT) Sets New 52-Week High at $15.75

Shares of Daktronics, Inc. (NASDAQ:DAKT) hit a new 52-week high on Friday . The stock traded as high as $15.75 and last traded at $15.65, with a volume of 82680 shares changing hands. The stock had previously closed at $15.13.

Analyst Ratings Changes

Separately, StockNews.com downgraded Daktronics from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th.

Daktronics Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.37 and a current ratio of 2.09. The firm has a market capitalization of $733.33 million, a PE ratio of 25.97, a price-to-earnings-growth ratio of 0.43 and a beta of 1.12. The firm’s 50 day moving average price is $13.85 and its 200-day moving average price is $11.15.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, June 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The company had revenue of $215.88 million for the quarter, compared to the consensus estimate of $179.28 million. Daktronics had a return on equity of 25.55% and a net margin of 4.23%. On average, research analysts expect that Daktronics, Inc. will post 1.13 EPS for the current year.

Insider Activity at Daktronics

In other Daktronics news, CEO Reece A. Kurtenbach sold 15,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.87, for a total transaction of $208,050.00. Following the completion of the transaction, the chief executive officer now directly owns 457,963 shares in the company, valued at $6,351,946.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Reece A. Kurtenbach sold 15,000 shares of Daktronics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $13.87, for a total value of $208,050.00. Following the sale, the chief executive officer now directly owns 457,963 shares in the company, valued at approximately $6,351,946.81. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Matthew John Kurtenbach sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $14.96, for a total value of $29,920.00. Following the transaction, the vice president now directly owns 208,906 shares of the company’s stock, valued at approximately $3,125,233.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,811 shares of company stock valued at $692,532. 8.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Daktronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Daktronics by 642.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 32,950 shares of the technology company’s stock worth $279,000 after buying an additional 28,510 shares in the last quarter. Strs Ohio raised its holdings in Daktronics by 12.7% in the 4th quarter. Strs Ohio now owns 65,500 shares of the technology company’s stock valued at $555,000 after acquiring an additional 7,400 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Daktronics by 422.7% in the 4th quarter. Russell Investments Group Ltd. now owns 52,790 shares of the technology company’s stock worth $448,000 after purchasing an additional 42,690 shares in the last quarter. Precision Wealth Strategies LLC acquired a new position in shares of Daktronics during the 4th quarter worth approximately $184,000. Finally, Anchor Capital Advisors LLC grew its position in shares of Daktronics by 161.4% in the fourth quarter. Anchor Capital Advisors LLC now owns 136,557 shares of the technology company’s stock valued at $1,158,000 after purchasing an additional 84,324 shares in the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products 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.