Daktronics (NASDAQ:DAKT) Shares Gap Up – Still a Buy?
by Mitch Edgeman · The Markets DailyDaktronics, Inc. (NASDAQ:DAKT – Get Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $20.11, but opened at $21.65. Daktronics shares last traded at $20.85, with a volume of 171,932 shares.
Analyst Ratings Changes
DAKT has been the topic of several recent research reports. Roth Mkm began coverage on Daktronics in a research report on Wednesday, June 10th. They set a “buy” rating and a $26.00 target price on the stock. Zacks Research raised Daktronics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Weiss Ratings cut Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 19th. Finally, Wall Street Zen raised Daktronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.
Read Our Latest Stock Report on DAKT
Daktronics Price Performance
The company has a current ratio of 2.22, a quick ratio of 1.68 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 0.54 and a beta of 1.66. The stock has a 50-day moving average price of $19.88 and a two-hundred day moving average price of $21.06.
Institutional Investors Weigh In On Daktronics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAKT. Quarry LP acquired a new position in shares of Daktronics during the third quarter valued at about $25,000. Cornerstone Planning Group LLC purchased a new position in shares of Daktronics in the 1st quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd boosted its stake in Daktronics by 22,566.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,354 shares in the last quarter. Clearstead Advisors LLC acquired a new stake in Daktronics in the 4th quarter worth approximately $57,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Daktronics by 204.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock worth $46,000 after purchasing an additional 2,045 shares in the last quarter. 61.69% of the stock is currently owned by hedge funds and other 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.