Daktronics (NASDAQ:DAKT) Sets New 52-Week High After Strong Earnings

Daktronics, Inc. (NASDAQ:DAKT) hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $14.15 and last traded at $13.86, with a volume of 1142258 shares. The stock had previously closed at $10.92.

The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.13. Daktronics had a return on equity of 30.57% and a net margin of 6.59%. The company had revenue of $215.88 million for the quarter, compared to the consensus estimate of $179.28 million.

Analyst Ratings Changes

Separately, StockNews.com lowered Daktronics from a “buy” rating to a “hold” rating in a report on Thursday, February 29th.

Hedge Funds Weigh In On Daktronics

Institutional investors have recently modified their holdings of the business. New York State Teachers Retirement System bought a new position in shares of Daktronics in the first quarter valued at approximately $34,000. Tower Research Capital LLC TRC grew its holdings in Daktronics by 831.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,376 shares of the technology company’s stock valued at $71,000 after purchasing an additional 7,477 shares during the period. Clear Street Markets LLC bought a new position in Daktronics during the fourth quarter valued at $101,000. Janney Montgomery Scott LLC bought a new position in Daktronics during the first quarter valued at $105,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Daktronics during the first quarter valued at $109,000. 61.69% of the stock is owned by institutional investors.

Daktronics Trading Up 1.3 %

The firm has a fifty day simple moving average of $10.91 and a two-hundred day simple moving average of $9.38. The firm has a market capitalization of $622.17 million, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 0.43 and a beta of 1.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 1.38.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products 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.