Daktronics (NASDAQ:DAKT) Coverage Initiated by Analysts at Craig Hallum

Equities research analysts at Craig Hallum began coverage on shares of Daktronics (NASDAQ:DAKT) in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $26.00 price target on the technology company’s stock. Craig Hallum’s price objective would suggest a potential upside of 53.66% from the stock’s previous close.

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

Daktronics Price Performance

Shares of DAKT opened at $16.92 on Wednesday. Daktronics has a 52-week low of $7.20 and a 52-week high of $19.89. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. The stock has a 50 day simple moving average of $16.56 and a 200 day simple moving average of $14.73. The firm has a market capitalization of $795.00 million, a PE ratio of 67.68, a P/E/G 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 analysts’ consensus estimates of $0.17 by ($0.09). Daktronics had a net margin of 3.62% and a return on equity of 19.61%. Sell-side analysts predict that Daktronics will post 0.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John Patrick Friel sold 2,244 shares of Daktronics stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $18.17, for a total transaction of $40,773.48. Following the completion of the sale, the director now directly owns 87,573 shares of the company’s stock, valued at approximately $1,591,201.41. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Reece A. Kurtenbach sold 8,048 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was 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 of the company’s stock, valued at $8,807,381.25. This represents a 1.68 % 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 Trading of Daktronics

A number of institutional investors and hedge funds have recently bought and sold shares of DAKT. Progeny 3 Inc. lifted its stake in shares of Daktronics by 27.3% in the 3rd quarter. Progeny 3 Inc. now owns 2,284,608 shares of the technology company’s stock worth $29,494,000 after purchasing an additional 489,700 shares during the period. Duquesne Family Office LLC boosted its stake in Daktronics by 20.3% during the second quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock worth $34,786,000 after buying an additional 420,161 shares during the period. Foundry Partners LLC bought a new stake in Daktronics in the third quarter worth about $4,101,000. Charles Schwab Investment Management Inc. grew its position in Daktronics by 76.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 451,873 shares of the technology company’s stock valued at $5,834,000 after acquiring an additional 195,830 shares during the last quarter. Finally, FMR LLC grew its position in Daktronics by 5,451.9% in the 3rd quarter. FMR LLC now owns 48,690 shares of the technology company’s stock valued at $629,000 after acquiring an additional 47,813 shares during the last quarter. 61.69% of the stock is currently owned by 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.