Daktronics (NASDAQ:DAKT) Hits New 12-Month High – Still a Buy?

Daktronics, Inc. (NASDAQ:DAKT)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $16.05 and last traded at $16.01, with a volume of 325480 shares changing hands. The stock had previously closed at $15.40.

Wall Street Analyst Weigh In

A number of brokerages have commented on DAKT. Singular Research raised shares of Daktronics to a “strong-buy” rating in a report on Monday, September 9th. StockNews.com raised shares of Daktronics from a “hold” rating to a “buy” rating in a report on Monday, October 14th.

Daktronics Stock Up 15.9 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17. The stock has a market capitalization of $876.98 million, a price-to-earnings ratio of 241.50, a P/E/G ratio of 0.60 and a beta of 1.19. The firm’s fifty day simple moving average is $13.91 and its 200 day simple moving average is $13.38.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.06. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. The company had revenue of $226.09 million during the quarter, compared to analysts’ expectations of $216.84 million. On average, sell-side analysts forecast that Daktronics, Inc. will post 0.89 earnings per share for the current year.

Insider Transactions at Daktronics

In other news, EVP Bradley T. Wiemann sold 25,000 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the transaction, the executive vice president now owns 85,446 shares in the company, valued at approximately $1,101,398.94. This represents a 22.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Matthew John Kurtenbach sold 15,400 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total value of $204,512.00. Following the transaction, the vice president now owns 2,500 shares of the company’s stock, valued at $33,200. The trade was a 86.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DAKT. Quarry LP boosted its stake in Daktronics by 75.6% in the 3rd quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after purchasing an additional 989 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Daktronics by 92.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,108 shares during the last quarter. CWM LLC boosted its position in shares of Daktronics by 31.4% during the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company’s stock valued at $51,000 after acquiring an additional 872 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Daktronics by 150.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock valued at $56,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Virtus Fund Advisers LLC bought a new stake in shares of Daktronics during the 3rd quarter valued at about $75,000. Institutional investors own 61.69% of the company’s stock.

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.