Daktronics (NASDAQ:DAKT) Shares Down 5.1% – Should You Sell?

Daktronics, Inc. (NASDAQ:DAKT) shares fell 5.1% during mid-day trading on Wednesday . The company traded as low as $14.41 and last traded at $14.41. 94,697 shares traded hands during trading, a decline of 81% from the average session volume of 496,295 shares. The stock had previously closed at $15.18.

Analysts Set New Price Targets

A number of brokerages have issued reports on DAKT. StockNews.com upgraded Daktronics from a “hold” rating to a “buy” rating in a report on Monday, October 14th. Singular Research upgraded Daktronics to a “strong-buy” rating in a research note on Monday, September 9th.

Daktronics Price Performance

The stock has a market capitalization of $648.32 million, a price-to-earnings ratio of 177.25, a P/E/G ratio of 0.54 and a beta of 1.14. The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.48. The business’s 50 day simple moving average is $13.34 and its 200-day simple moving average is $13.09.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. The company had revenue of $226.09 million for the quarter, compared to the consensus estimate of $216.84 million. On average, research analysts forecast that Daktronics, Inc. will post 0.89 earnings per share for the current year.

Insider Buying and Selling

In other Daktronics news, VP Matthew John Kurtenbach sold 15,400 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the transaction, the vice president now owns 2,500 shares in the company, valued at approximately $33,200. This trade represents a 86.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bradley T. Wiemann sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the transaction, the executive vice president now owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. The trade was a 22.64 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAKT. Janney Montgomery Scott LLC purchased a new stake in Daktronics during the 1st quarter worth about $105,000. Vanguard Group Inc. boosted its holdings in shares of Daktronics by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,338,484 shares of the technology company’s stock worth $23,291,000 after purchasing an additional 41,076 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Daktronics during the 1st quarter valued at about $109,000. Progeny 3 Inc. purchased a new stake in Daktronics in the 1st quarter worth approximately $7,448,000. Finally, CWM LLC lifted its holdings in Daktronics by 31.4% in the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after buying an additional 872 shares during the period. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

About Daktronics

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.