Daktronics, Inc. $DAKT Stock Position Cut by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC trimmed its position in shares of Daktronics, Inc. (NASDAQ:DAKT) by 25.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 86,884 shares of the technology company’s stock after selling 30,318 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Daktronics were worth $1,511,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Hennessy Advisors Inc. purchased a new position in Daktronics in the third quarter worth about $188,000. Sterling Capital Management LLC grew its holdings in shares of Daktronics by 949.3% during the third quarter. Sterling Capital Management LLC now owns 1,469 shares of the technology company’s stock valued at $26,000 after buying an additional 1,329 shares during the last quarter. Inspire Investing LLC increased its position in shares of Daktronics by 6.4% during the third quarter. Inspire Investing LLC now owns 36,790 shares of the technology company’s stock valued at $640,000 after acquiring an additional 2,208 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Daktronics by 20.1% during the third quarter. SummerHaven Investment Management LLC now owns 55,479 shares of the technology company’s stock valued at $965,000 after acquiring an additional 9,295 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Daktronics by 231.6% during the second quarter. IFP Advisors Inc now owns 3,270 shares of the technology company’s stock valued at $64,000 after acquiring an additional 2,284 shares in the last quarter. 61.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Zacks Research lowered shares of Daktronics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 3rd. Weiss Ratings downgraded Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, November 4th. Wall Street Zen raised Daktronics from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Finally, Craig Hallum reissued a “buy” rating and issued a $33.00 target price on shares of Daktronics in a report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.00.

Daktronics Price Performance

Shares of NASDAQ:DAKT opened at $19.50 on Friday. Daktronics, Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $28.27. The business has a 50-day simple moving average of $18.63 and a two-hundred day simple moving average of $20.36. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.17. The firm has a market cap of $937.75 million, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 0.63 and a beta of 1.72.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, September 2nd. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $234.57 million for the quarter, compared to analysts’ expectations of $230.27 million. Daktronics had a net margin of 5.66% and a return on equity of 18.05%. During the same quarter in the prior year, the business earned $0.33 EPS. On average, analysts expect that Daktronics, Inc. will post 1.27 earnings per share for the current year.

About Daktronics

Daktronics, Inc. designs and manufactures electronic display and control systems. Its products include LED video displays, scoreboards, digital billboards, message displays, audio systems and the software used to operate them. The company serves customers in settings such as sports venues, schools, retail and commercial locations, transportation facilities and public spaces. Its systems are used for live event presentation, advertising, information and public messaging. Founded in 1968 and headquartered in Brookings, South Dakota, Daktronics serves customers in the United States and internationally.