OP Asset Management Ltd Acquires New Position in Daktronics, Inc. $DAKT

OP Asset Management Ltd acquired a new stake in shares of Daktronics, Inc. (NASDAQ:DAKT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 109,085 shares of the technology company’s stock, valued at approximately $2,133,000. OP Asset Management Ltd owned approximately 0.23% of Daktronics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Daktronics during the 3rd quarter worth $540,000. American Century Companies Inc. boosted its stake in Daktronics by 2.8% in the third quarter. American Century Companies Inc. now owns 1,664,668 shares of the technology company’s stock valued at $34,825,000 after buying an additional 44,731 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Daktronics in the fourth quarter valued at about $2,968,000. UBS Group AG boosted its stake in Daktronics by 41.2% in the fourth quarter. UBS Group AG now owns 150,669 shares of the technology company’s stock valued at $2,979,000 after buying an additional 43,949 shares in the last quarter. Finally, Legato Capital Management LLC bought a new position in Daktronics in the fourth quarter valued at about $1,142,000. 61.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DAKT. Wall Street Zen raised Daktronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Zacks Research raised shares of Daktronics from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Roth Mkm initiated coverage on shares of Daktronics in a research report on Wednesday, June 10th. They set a “buy” rating and a $26.00 price objective for the company. Finally, Weiss Ratings raised shares of Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Daktronics has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Daktronics Stock Performance

NASDAQ:DAKT opened at $19.53 on Monday. The company has a market capitalization of $942.91 million, a PE ratio of 21.46, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a 50 day simple moving average of $19.88 and a two-hundred day simple moving average of $21.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.74 and a current ratio of 2.31. Daktronics, Inc. has a fifty-two week low of $14.86 and a fifty-two week high of $28.27.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, June 24th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. Daktronics had a net margin of 5.41% and a return on equity of 17.62%. The firm had revenue of $208.61 million for the quarter, compared to the consensus estimate of $205.27 million. During the same quarter in the previous year, the company earned ($0.19) EPS. Research analysts anticipate that Daktronics, Inc. will post 1.3 earnings per share for the current year.

Daktronics Company Profile

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.