Daktronics (NASDAQ:DAKT) Sets New 52-Week High – Time to Buy?

Daktronics, Inc. (NASDAQ:DAKT) shares reached a new 52-week high on Wednesday . The stock traded as high as $24.74 and last traded at $24.7240, with a volume of 11440 shares. The stock had previously closed at $24.26.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Zacks Research upgraded Daktronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Daktronics in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Daktronics Trading Up 6.7%

The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 195.48, a price-to-earnings-growth ratio of 0.70 and a beta of 1.73. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.71 and a current ratio of 2.23. The company’s 50 day simple moving average is $20.46 and its two-hundred day simple moving average is $19.38.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings data on Wednesday, December 10th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The business had revenue of $229.25 million for the quarter, compared to the consensus estimate of $213.93 million. Daktronics had a return on equity of 15.42% and a net margin of 0.96%.During the same period last year, the business earned $0.27 EPS. Research analysts expect that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DAKT. American Century Companies Inc. increased its position in Daktronics by 7.0% during the 2nd quarter. American Century Companies Inc. now owns 1,619,937 shares of the technology company’s stock worth $24,493,000 after buying an additional 105,313 shares during the period. Inspire Investing LLC boosted its position in shares of Daktronics by 206.3% in the second quarter. Inspire Investing LLC now owns 86,188 shares of the technology company’s stock valued at $1,303,000 after acquiring an additional 58,047 shares during the period. CSM Advisors LLC acquired a new position in shares of Daktronics in the second quarter valued at about $6,242,000. Anthracite Investment Company Inc. increased its position in Daktronics by 17.4% during the second quarter. Anthracite Investment Company Inc. now owns 441,214 shares of the technology company’s stock worth $6,671,000 after acquiring an additional 65,275 shares during the period. Finally, Campbell & CO Investment Adviser LLC raised its stake in Daktronics by 190.4% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 32,132 shares of the technology company’s stock worth $486,000 after purchasing an additional 21,069 shares in the last quarter. Institutional investors own 61.69% of the company’s stock.

About Daktronics

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.