Daktronics (NASDAQ:DAKT) Posts Earnings Results, Beats Expectations By $0.08 EPS

Daktronics (NASDAQ:DAKT) posted its quarterly earnings data on Wednesday. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08, FiscalAI reports. Daktronics had a net margin of 1.51% and a return on equity of 14.64%. The company had revenue of $229.25 million for the quarter, compared to the consensus estimate of $213.93 million. During the same period last year, the company earned $0.27 earnings per share.

Daktronics Stock Up 0.3%

Shares of DAKT stock opened at $17.97 on Wednesday. Daktronics has a 52-week low of $10.24 and a 52-week high of $24.38. The stock has a market cap of $872.08 million, a price-to-earnings ratio of 29.18, a PEG ratio of 0.55 and a beta of 1.72. The firm’s 50-day moving average is $19.09 and its 200-day moving average is $17.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.54 and a current ratio of 2.07.

Insider Buying and Selling

In related news, Director John Patrick Friel sold 13,479 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $23.58, for a total transaction of $317,834.82. Following the transaction, the director directly owned 74,094 shares of the company’s stock, valued at approximately $1,747,136.52. The trade was a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Carla S. Gatzke sold 9,944 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $23.09, for a total value of $229,606.96. Following the completion of the sale, the vice president owned 721,036 shares in the company, valued at approximately $16,648,721.24. This trade represents a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Daktronics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in Daktronics during the third quarter worth approximately $416,000. Creative Planning increased its stake in shares of Daktronics by 14.7% during the third quarter. Creative Planning now owns 17,121 shares of the technology company’s stock worth $358,000 after purchasing an additional 2,199 shares during the period. Osaic Holdings Inc. lifted its holdings in Daktronics by 3.2% during the 2nd quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company’s stock worth $357,000 after purchasing an additional 728 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new stake in Daktronics in the 3rd quarter valued at $308,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Daktronics by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company’s stock valued at $295,000 after buying an additional 1,476 shares in the last quarter. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DAKT. Zacks Research lowered shares of Daktronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Daktronics in a report on Monday. Finally, Wall Street Zen upgraded Daktronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 14th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Daktronics presently has a consensus rating of “Hold” and a consensus price target of $26.00.

About Daktronics

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.