Daktronics (NASDAQ:DAKT) Reaches New 52-Week High - Still a Buy?

Key Points

• Daktronics' stock has reached a new **52-week high** of $24.25, with the latest trade at **$24.04**, reflecting a significant uptick in market interest.
• Analysts have shown increased confidence in Daktronics, with Zacks Research upgrading its rating to **strong-buy** and consensus target price set at **$26.00**.
• The company posted better-than-expected quarterly earnings, reporting **$0.33 per share** against an estimate of **$0.24**, along with a revenue of **$218.97 million** exceeding projections.

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $24.25 and last traded at $24.04, with a volume of 724835 shares traded. The stock had previously closed at $23.39.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DAKT shares. Zacks Research upgraded Daktronics from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 11th. Wall Street Zen raised shares of Daktronics from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 14th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, Daktronics presently has an average rating of "Strong Buy" and an average price target of $26.00.

Daktronics Stock Performance

The firm's fifty day moving average price is $17.72 and its 200 day moving average price is $15.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.54 and a current ratio of 2.07. The firm has a market cap of $1.07 billion, a P/E ratio of 37.89, a price-to-earnings-growth ratio of 0.70 and a beta of 1.69.

Daktronics (NASDAQ:DAKT - Get Free Report) last released its quarterly earnings data on Wednesday, September 10th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.24 by $0.09. The business had revenue of $218.97 million for the quarter, compared to the consensus estimate of $196.90 million. Daktronics had a net margin of 1.51% and a return on equity of 14.64%. Sell-side analysts expect that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Patrick Friel sold 13,479 shares of Daktronics stock in a transaction on Monday, September 15th. The shares were sold at an average price of $23.58, for a total value of $317,834.82. Following the transaction, the director directly owned 74,094 shares of the company's stock, valued at $1,747,136.52. The trade was a 15.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Carla S. Gatzke sold 9,944 shares of the business's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $23.09, for a total transaction of $229,606.96. Following the sale, the vice president owned 721,036 shares in the company, valued at $16,648,721.24. The trade was a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,262 shares of company stock valued at $612,167. 5.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DAKT. Osaic Holdings Inc. increased its holdings in shares of Daktronics by 3.2% in the second quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company's stock worth $357,000 after purchasing an additional 728 shares during the period. SummerHaven Investment Management LLC boosted its position in Daktronics by 1.6% during the first quarter. SummerHaven Investment Management LLC now owns 56,355 shares of the technology company's stock valued at $686,000 after buying an additional 876 shares during the period. Principal Financial Group Inc. boosted its position in Daktronics by 4.0% during the first quarter. Principal Financial Group Inc. now owns 23,311 shares of the technology company's stock valued at $284,000 after buying an additional 898 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Daktronics by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 15,193 shares of the technology company's stock worth $230,000 after purchasing an additional 1,253 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Daktronics by 6.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company's stock worth $295,000 after purchasing an additional 1,476 shares during the period. 61.69% of the stock is owned by institutional investors.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays 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.