Daktronics (NASDAQ:DAKT) Reaches New 12-Month High – Here’s Why

Daktronics, Inc. (NASDAQ:DAKT) reached a new 52-week high during trading on Tuesday . The company traded as high as $28.26 and last traded at $27.8690, with a volume of 220466 shares. The stock had previously closed at $27.50.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on DAKT shares. Zacks Research cut shares of Daktronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Daktronics in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Daktronics Stock Up 1.0%

The company has a quick ratio of 1.71, a current ratio of 2.23 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $22.30 and a 200-day simple moving average of $20.23. The firm has a market cap of $1.35 billion, a P/E ratio of 213.75, a price-to-earnings-growth ratio of 0.81 and a beta of 1.73.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, December 10th. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. Daktronics had a net margin of 0.96% and a return on equity of 15.42%. The firm 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 firm earned $0.27 EPS. On average, equities analysts anticipate that Daktronics, Inc. will post 0.96 earnings per share for the current year.

Hedge Funds Weigh In On Daktronics

Several institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Daktronics by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,856 shares of the technology company’s stock worth $1,440,000 after acquiring an additional 519 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Daktronics by 0.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 77,264 shares of the technology company’s stock valued at $1,503,000 after buying an additional 665 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Daktronics by 7.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,601 shares of the technology company’s stock worth $210,000 after acquiring an additional 707 shares in the last quarter. Royal Bank of Canada increased its stake in Daktronics by 12.7% during the fourth quarter. Royal Bank of Canada now owns 6,430 shares of the technology company’s stock worth $127,000 after acquiring an additional 724 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in Daktronics by 3.2% in the second quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company’s stock worth $357,000 after buying an additional 728 shares during the last quarter. Hedge funds and other institutional investors own 61.69% of the company’s stock.

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.