Daktronics (NASDAQ:DAKT) Sets New 52-Week High – Still a Buy?

Daktronics, Inc. (NASDAQ:DAKT) reached a new 52-week high on Tuesday . The company traded as high as $27.77 and last traded at $27.23, with a volume of 20024 shares changing hands. The stock had previously closed at $27.49.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Daktronics in a research note on Monday, December 29th. Zacks Research upgraded shares of Daktronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Daktronics Price Performance

The business has a 50-day simple moving average of $21.50 and a 200 day simple moving average of $19.85. The firm has a market cap of $1.33 billion, a P/E ratio of 209.29, a price-to-earnings-growth ratio of 0.80 and a beta of 1.73. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.71 and a current ratio of 2.23.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings data on Wednesday, December 10th. The technology company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The firm had revenue of $229.25 million for the quarter, compared to analyst estimates of $213.93 million. Daktronics had a return on equity of 15.42% and a net margin of 0.96%.During the same period last year, the company earned $0.27 EPS. On average, analysts anticipate that Daktronics, Inc. will post 0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of Daktronics during the third quarter valued at about $25,000. Caitong International Asset Management Co. Ltd raised its position in shares of Daktronics by 22,566.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,354 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Daktronics during the third quarter valued at approximately $43,000. Northwestern Mutual Wealth Management Co. grew its stake in Daktronics by 204.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock worth $46,000 after purchasing an additional 2,045 shares during the period. Finally, Quaker Wealth Management LLC lifted its position in Daktronics by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 3,800 shares of the technology company’s stock valued at $57,000 after buying an additional 7,600 shares during the period. 61.69% of the stock is currently owned by institutional investors.

Daktronics Company Profile

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.