State of Wisconsin Investment Board cut its stake in shares of Daktronics Inc. (NASDAQ:DAKT) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 503,362 shares of the company’s stock after selling 13,000 shares during the period. State of Wisconsin Investment Board owned approximately 1.15% of Daktronics worth $4,802,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its stake in Daktronics by 2.5% in the second quarter. BlackRock Fund Advisors now owns 2,553,238 shares of the company’s stock valued at $15,958,000 after buying an additional 63,154 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Daktronics by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,884,585 shares of the company’s stock worth $11,779,000 after buying an additional 101,159 shares during the period. Vanguard Group Inc. raised its stake in Daktronics by 13.5% in the second quarter. Vanguard Group Inc. now owns 1,811,050 shares of the company’s stock worth $11,320,000 after buying an additional 215,162 shares during the period. State Street Corp raised its stake in Daktronics by 2.9% in the second quarter. State Street Corp now owns 735,271 shares of the company’s stock worth $4,597,000 after buying an additional 20,498 shares during the period. Finally, Mondrian Investment Partners LTD raised its stake in Daktronics by 29.5% in the second quarter. Mondrian Investment Partners LTD now owns 505,487 shares of the company’s stock worth $3,159,000 after buying an additional 115,142 shares during the period. Institutional investors own 43.96% of the company’s stock.
Daktronics Inc. (NASDAQ:DAKT) traded up 2.01% on Friday, hitting $10.64. The stock had a trading volume of 140,325 shares. Daktronics Inc. has a 1-year low of $5.92 and a 1-year high of $10.78. The firm has a market capitalization of $466.80 million, a price-to-earnings ratio of 122.30 and a beta of 1.39. The company’s 50 day moving average is $8.93 and its 200-day moving average is $7.98.
Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Tuesday, November 22nd. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. Daktronics had a net margin of 1.64% and a return on equity of 4.76%. The company earned $170 million during the quarter, compared to the consensus estimate of $161.50 million. During the same period in the previous year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts forecast that Daktronics Inc. will post $0.29 EPS for the current year.
A number of research firms recently commented on DAKT. Zacks Investment Research upgraded Daktronics from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a research report on Friday, November 4th. TheStreet upgraded Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, November 21st. Finally, Needham & Company LLC increased their price target on Daktronics from $8.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, August 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $9.38.
Daktronics Company Profile
Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.