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

Daktronics, Inc. (NASDAQ:DAKT)’s share price 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. The stock had previously closed at $27.49.

Analysts Set New Price Targets

Several research analysts have commented on DAKT shares. Zacks Research raised shares of Daktronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Daktronics in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Daktronics Price Performance

The company has a market capitalization of $1.33 billion, a PE ratio of 209.29, a price-to-earnings-growth ratio of 0.80 and a beta of 1.73. 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 firm’s 50-day moving average is $21.50 and its 200-day moving average is $19.85.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm had revenue of $229.25 million during 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 quarter in the previous year, the company posted $0.27 earnings per share. Equities analysts predict that Daktronics, Inc. will post 0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Daktronics

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 purchasing an additional 1,476 shares in the last quarter. Empowered Funds LLC lifted its stake in Daktronics by 2.1% in the first quarter. Empowered Funds LLC now owns 242,535 shares of the technology company’s stock worth $2,954,000 after purchasing an additional 4,926 shares during the last quarter. Anthracite Investment Company Inc. boosted its position in Daktronics by 17.4% during the second quarter. Anthracite Investment Company Inc. now owns 441,214 shares of the technology company’s stock valued at $6,671,000 after buying an additional 65,275 shares during the period. Quaker Wealth Management LLC grew its stake in shares of 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 last quarter. Finally, Atria Investments Inc grew its stake in shares of Daktronics by 19.5% during the second quarter. Atria Investments Inc now owns 18,700 shares of the technology company’s stock valued at $283,000 after buying an additional 3,057 shares during the last quarter. 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.