Daktronics (NASDAQ:DAKT) Shares Gap Down Following Weak Earnings

Daktronics, Inc. (NASDAQ:DAKT)’s stock price gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $24.88, but opened at $22.59. Daktronics shares last traded at $22.31, with a volume of 238,232 shares changing hands.

The technology company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). Daktronics had a net margin of 0.96% and a return on equity of 15.42%. The business had revenue of $181.87 million for the quarter, compared to analyst estimates of $181.00 million.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DAKT shares. Weiss Ratings restated a “hold (c)” rating on shares of Daktronics in a report on Monday, December 29th. Zacks Research lowered shares of Daktronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Institutional Trading of Daktronics

Large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in Daktronics by 7.0% in 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. CSM Advisors LLC purchased a new stake in shares of Daktronics during the second quarter worth $6,242,000. Versor Investments LP bought a new position in shares of Daktronics in the third quarter worth $808,000. Campbell & CO Investment Adviser LLC grew its position in shares of Daktronics by 190.4% in the second quarter. Campbell & CO Investment Adviser LLC now owns 32,132 shares of the technology company’s stock valued at $486,000 after purchasing an additional 21,069 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Daktronics by 366.7% during the 3rd quarter. SG Americas Securities LLC now owns 97,923 shares of the technology company’s stock valued at $2,049,000 after purchasing an additional 76,940 shares during the period. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Daktronics Price Performance

The business has a fifty day moving average of $23.20 and a 200-day moving average of $20.62. The firm has a market cap of $1.09 billion, a PE ratio of 172.55, a PEG ratio of 0.78 and a beta of 1.70. The company has a current ratio of 2.23, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18.

Daktronics Company Profile

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.