Daktronics (NASDAQ:DAKT) Shares Down 4.2% – Should You Sell?

Daktronics, Inc. (NASDAQ:DAKT)’s stock price was down 4.2% during trading on Tuesday. The stock traded as low as $20.75 and last traded at $20.0780. Approximately 9,580 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 504,579 shares. The stock had previously closed at $20.96.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DAKT shares. Wall Street Zen upgraded shares of Daktronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Zacks Research raised shares of Daktronics from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Roth Capital increased their target price on Daktronics from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Daktronics in a research note on Tuesday, September 22nd. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $33.00 price target on shares of Daktronics in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $31.00.

Daktronics Stock Performance

The stock has a market capitalization of $951.70 million, a PE ratio of 20.19, a price-to-earnings-growth ratio of 0.64 and a beta of 1.68. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17. The firm’s fifty day moving average price is $18.57 and its two-hundred day moving average price is $20.47.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, September 2nd. The technology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. Daktronics had a return on equity of 18.05% and a net margin of 5.66%. The business had revenue of $234.57 million during the quarter, compared to the consensus estimate of $230.27 million. During the same period in the previous year, the business earned $0.33 EPS. As a group, equities research analysts forecast that Daktronics, Inc. will post 1.28 EPS for the current year.

Institutional Trading of Daktronics

Institutional investors have recently bought and sold shares of the business. Hennessy Advisors Inc. acquired a new position in Daktronics in the 3rd quarter valued at approximately $188,000. Sterling Capital Management LLC lifted its holdings in Daktronics by 949.3% during the 3rd quarter. Sterling Capital Management LLC now owns 1,469 shares of the technology company’s stock worth $26,000 after purchasing an additional 1,329 shares in the last quarter. Inspire Investing LLC boosted its position in shares of Daktronics by 6.4% during the 3rd 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 during the last quarter. SummerHaven Investment Management LLC increased its position in shares of Daktronics by 20.1% during the 3rd quarter. SummerHaven Investment Management LLC now owns 55,479 shares of the technology company’s stock valued at $965,000 after purchasing an additional 9,295 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in Daktronics by 231.6% in the 2nd quarter. IFP Advisors Inc now owns 3,270 shares of the technology company’s stock worth $64,000 after purchasing an additional 2,284 shares during the period. Institutional investors and hedge funds own 61.69% of the company’s stock.

About Daktronics

Daktronics, Inc designs and manufactures electronic display and audiovisual communication systems. Its products include large-format LED video displays, digital scoreboards, message centers, programmable display systems, control systems and related software. The company also provides installation, maintenance, content management and other support services for its display solutions.

Its products are used in sports venues, schools and universities, commercial properties, retail locations, transportation facilities and public spaces.