Daktronics (NASDAQ:DAKT) Hits New 52-Week High – Should You Buy?

Daktronics, Inc. (NASDAQ:DAKT) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $26.75 and last traded at $25.93, with a volume of 1801472 shares changing hands. The stock had previously closed at $25.41.

Wall Street Analysts Forecast Growth

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

Daktronics Trading Down 0.1%

The stock has a market capitalization of $1.27 billion, a P/E ratio of 30.07, a P/E/G ratio of 0.76 and a beta of 1.73. The company has a current ratio of 2.23, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $20.93 and a two-hundred day moving average price of $19.60.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, December 10th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The business had revenue of $229.25 million during 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 quarter in the previous year, the firm earned $0.27 earnings per share. On average, analysts expect that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in Daktronics by 28.9% during the fourth quarter. Renaissance Technologies LLC now owns 727,461 shares of the technology company’s stock worth $14,382,000 after purchasing an additional 163,048 shares during the last quarter. Integrated Quantitative Investments LLC bought a new position in shares of Daktronics in the 4th quarter valued at $319,000. Systematic Alpha Investments LLC acquired a new position in shares of Daktronics during the 4th quarter worth $200,000. Campbell & CO Investment Adviser LLC lifted its position in shares of Daktronics by 49.7% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 41,134 shares of the technology company’s stock worth $813,000 after buying an additional 13,665 shares during the last quarter. Finally, Kovack Advisors Inc. lifted its position in shares of Daktronics by 45.2% during the 4th quarter. Kovack Advisors Inc. now owns 49,740 shares of the technology company’s stock worth $975,000 after buying an additional 15,495 shares during the last quarter. 61.69% of the stock is owned by institutional investors.

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.