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

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

Analysts Set New Price Targets

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

Daktronics Price Performance

The firm’s 50-day moving average is $13.34 and its two-hundred day moving average is $13.09. The company has a market cap of $648.32 million, a P/E ratio of 177.25, a PEG ratio of 0.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data 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 business had revenue of $226.09 million for the quarter, compared to analysts’ expectations of $216.84 million. Analysts anticipate that Daktronics, Inc. will post 0.89 earnings per share for the current year.

Insider Activity

In other news, EVP Bradley T. Wiemann sold 25,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were 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 in the company, valued at $1,101,398.94. This represents a 22.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Matthew John Kurtenbach sold 15,400 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 2,500 shares in the company, valued at $33,200. This trade represents a 86.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Daktronics

A number of institutional investors and hedge funds have recently made changes to their positions in DAKT. Quarry LP increased its stake in Daktronics by 75.6% in 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 position in shares of Daktronics by 92.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after buying an additional 1,108 shares in the last quarter. CWM LLC boosted its position in shares of 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 in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Daktronics by 150.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock worth $56,000 after buying an additional 2,400 shares in the last quarter. Finally, Virtus Fund Advisers LLC acquired a new position in Daktronics in the 3rd quarter valued at about $75,000. 61.69% of the stock is owned by hedge funds and other institutional investors.

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.