Daktronics (NASDAQ:DAKT) Shares Gap Up – Still a Buy?

Daktronics, Inc. (NASDAQ:DAKT)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $16.33, but opened at $17.50. Daktronics shares last traded at $19.32, with a volume of 444,929 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Singular Research upgraded Daktronics to a “strong-buy” rating in a research report on Monday, September 9th. StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a report on Monday, October 14th.

Daktronics Stock Up 13.3 %

The company has a market cap of $857.75 million, a PE ratio of 241.50, a PEG ratio of 0.60 and a beta of 1.19. The stock’s 50 day moving average price is $13.91 and its 200-day moving average price is $13.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17.

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

Insider Buying and Selling at Daktronics

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

Institutional Investors Weigh In On Daktronics

A number of hedge funds and other institutional investors have recently bought and sold shares of DAKT. Quarry LP lifted its holdings in shares of Daktronics by 75.6% during the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock valued at $30,000 after purchasing an additional 989 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Daktronics by 92.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after acquiring an additional 1,108 shares in the last quarter. CWM LLC grew its stake in shares of Daktronics by 31.4% in the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after acquiring an additional 872 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Daktronics by 150.0% during the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock valued at $56,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Virtus Fund Advisers LLC purchased a new position in shares of Daktronics in the 3rd quarter worth about $75,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Daktronics Company Profile

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.