Daktronics (NASDAQ:DAKT) Shares Down 3.6% – Should You Sell?

Shares of Daktronics, Inc. (NASDAQ:DAKT) traded down 3.6% during trading on Wednesday . The stock traded as low as $18.16 and last traded at $18.2350. 122,023 shares changed hands during trading, a decline of 73% from the average session volume of 452,819 shares. The stock had previously closed at $18.91.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Zacks Research lowered shares of Daktronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Daktronics in a research report on Monday, December 15th. Finally, Wall Street Zen upgraded Daktronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 14th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.00.

Daktronics Trading Down 2.1%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.71 and a current ratio of 2.23. The company’s 50 day moving average is $18.95 and its 200 day moving average is $18.04. The stock has a market capitalization of $902.85 million, a price-to-earnings ratio of 142.47, a PEG ratio of 0.54 and a beta of 1.72.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data on Wednesday, December 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. Daktronics had a net margin of 0.96% and a return on equity of 15.42%. The company had revenue of $229.25 million for the quarter, compared to the consensus estimate of $213.93 million. During the same quarter in the previous year, the firm posted $0.27 EPS. On average, research analysts forecast that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.

Institutional Trading of Daktronics

Hedge funds have recently modified their holdings of the company. Quarry LP acquired a new position in shares of Daktronics in the third quarter valued at $25,000. State of Alaska Department of Revenue acquired a new stake in shares of Daktronics during the 3rd quarter valued at about $43,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Daktronics by 204.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after acquiring an additional 2,045 shares in the last quarter. Quaker Wealth Management LLC increased its stake in Daktronics by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 3,800 shares of the technology company’s stock valued at $57,000 after acquiring an additional 7,600 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Daktronics by 66.8% during the second quarter. BNP Paribas Financial Markets now owns 3,897 shares of the technology company’s stock worth $59,000 after purchasing an additional 1,561 shares during the period. Institutional investors own 61.69% of the company’s stock.

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.