Daktronics (NASDAQ:DAKT) Now Covered by Analysts at Craig Hallum

Craig Hallum started coverage on shares of Daktronics (NASDAQ:DAKT) in a research note issued to investors on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $26.00 target price on the technology company’s stock.

Separately, StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th.

Daktronics Stock Up 4.4 %

Shares of Daktronics stock opened at $17.66 on Wednesday. Daktronics has a 1 year low of $7.20 and a 1 year high of $19.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. The company has a 50-day moving average of $16.62 and a 200 day moving average of $14.75. The firm has a market cap of $829.77 million, a price-to-earnings ratio of 70.64, a PEG ratio of 0.58 and a beta of 1.17.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, December 4th. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.09). Daktronics had a return on equity of 19.61% and a net margin of 3.62%. As a group, sell-side analysts anticipate that Daktronics will post 0.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Daktronics news, CEO Reece A. Kurtenbach sold 8,048 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $18.75, for a total transaction of $150,900.00. Following the completion of the sale, the chief executive officer now directly owns 469,727 shares in the company, valued at approximately $8,807,381.25. The trade was a 1.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Patrick Friel sold 2,244 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total value of $40,773.48. Following the completion of the transaction, the director now owns 87,573 shares in the company, valued at approximately $1,591,201.41. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Daktronics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its position in Daktronics by 0.9% during the third quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company’s stock valued at $959,000 after buying an additional 654 shares during the period. Quarry LP grew its position in shares of Daktronics by 75.6% during the 3rd quarter. Quarry LP now owns 2,297 shares of the technology company’s stock valued at $30,000 after acquiring an additional 989 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake 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 purchasing an additional 1,108 shares in the last quarter. SG Americas Securities LLC raised its holdings in Daktronics by 25.8% in the 4th quarter. SG Americas Securities LLC now owns 18,339 shares of the technology company’s stock worth $309,000 after purchasing an additional 3,758 shares during the period. Finally, Virtus Fund Advisers LLC purchased a new position in Daktronics during the third quarter valued at $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.