Daktronics (NASDAQ:DAKT) Shares Down 4.2% – Time to Sell?

Daktronics, Inc. (NASDAQ:DAKT) fell 4.2% during mid-day trading on Tuesday. The company traded as low as $20.75 and last traded at $20.0780. Approximately 9,580 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 504,579 shares. The stock had previously closed at $20.96.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Daktronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Roth Capital boosted their price target on shares of Daktronics from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Zacks Research upgraded Daktronics from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Daktronics in a research note on Tuesday, September 22nd. Finally, Craig Hallum reissued a “buy” rating and issued a $33.00 price target on shares of Daktronics in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Daktronics presently has a consensus rating of “Buy” and a consensus price target of $31.00.

Daktronics Price Performance

The company’s 50-day simple moving average is $18.55 and its 200 day simple moving average is $20.47. The company has a market capitalization of $969.73 million, a P/E ratio of 20.60, a P/E/G ratio of 0.64 and a beta of 1.68. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.17.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Wednesday, September 2nd. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Daktronics had a net margin of 5.66% and a return on equity of 18.05%. The business had revenue of $234.57 million for the quarter, compared to the consensus estimate of $230.27 million. During the same quarter last year, the firm earned $0.33 EPS. As a group, sell-side analysts expect that Daktronics, Inc. will post 1.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DAKT. BlackRock Inc. acquired a new stake in Daktronics in the 2nd quarter worth approximately $68,158,000. Bank of New York Mellon Corp acquired a new position in Daktronics during the second quarter valued at approximately $17,992,000. Hillsdale Investment Management Inc. raised its position in shares of Daktronics by 161.2% in the first quarter. Hillsdale Investment Management Inc. now owns 392,089 shares of the technology company’s stock valued at $7,665,000 after purchasing an additional 241,969 shares during the period. Man Group plc bought a new position in shares of Daktronics in the second quarter valued at approximately $2,345,000. Finally, OP Asset Management Ltd acquired a new stake in shares of Daktronics in the first quarter worth $2,133,000. 61.69% of the stock is owned by institutional investors.

Daktronics Company Profile

Daktronics, Inc designs and manufactures electronic display and audiovisual communication systems. Its products include large-format LED video displays, digital scoreboards, message centers, programmable display systems, control systems and related software. The company also provides installation, maintenance, content management and other support services for its display solutions.

Its products are used in sports venues, schools and universities, commercial properties, retail locations, transportation facilities and public spaces.