Daktronics Inc. (NASDAQ: DAKT) stock jumped 5.96% on Friday to $3.20 against a previous-day closing price of $3.02. With 0.45 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.34 million shares. During the session, the Computer Hardware company that operates in wider Technology sector, reached to the highest price of $3.2200 whereas the lowest price it dropped to was $2.9700. The 52-week range on DAKT shows that it touched its highest point at $4.94 and its lowest point at $1.46 during that stretch. Beta for the stock currently stands at 1.02.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DAKT was up-trending over the past week, with a rise of 1.27%, but this was up by 16.79% over a month. Three-month performance surged to 9.97% while six-month performance fell -10.36%. The stock lost -32.91% in the past year, while it has gained 13.48% so far this year. A look at the trailing 12-month EPS for DAKT yields -0.53 with Next year EPS estimates of 1.02. For the next quarter, that number is 0.05. This implies an EPS growth rate of -94.60% for this year and 2450.00% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -43.80%.
Float and Shares Shorts:
At present, 45.32 million DAKT shares are outstanding with a float of 35.67 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.18 million, which was 0.39% higher than short shares on Sep 14, 2022. In addition to Mr. Reece A. Kurtenbach as the firm’s Chairman, Pres & CEO, Ms. Sheila Mae Anderson serves as its CFO & Treasurer.
Through their ownership of 48.35% of DAKT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 30.60% of DAKT, in contrast to 24.32% held by mutual funds. Shares owned by individuals account for 15.04%. As the largest shareholder in DAKT with 5.47% of the stake, Dimensional Fund Advisors LP holds 2,486,046 shares worth 2,486,046. A second-largest stockholder of DAKT, Alta Fox Capital Management LLC, holds 1,748,098 shares, controlling over 3.85% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in DAKT, holding 1,728,636 shares or 3.80% stake. With a 2.92% stake in DAKT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,325,348 shares are owned by the mutual fund manager. The Franklin Micro Cap Value Fund, which owns about 1.79% of DAKT stock, is the second-largest Mutual Fund holder. It holds 814,658 shares valued at 2.3 million. Vanguard Extended Market Index Fu holds 1.25% of the stake in DAKT, owning 569,976 shares worth 1.61 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DAKT since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With DAKT analysts setting a high price target of $5.50 and a low target of $5.50, the average target price over the next 12 months is $5.50. Based on these targets, DAKT could surge 71.87% to reach the target high and rise by 71.87% to reach the target low. Reaching the average price target will result in a growth of 71.87% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. DAKT will report FY 2023 earnings on 05/31/2023. Analysts have provided yearly estimates in a range of $0.04 being high and $0.04 being low. For DAKT, this leads to a yearly average estimate of $0.04. The surprise factor in the prior quarter was -$0.14. Based on analyst estimates, the high estimate for the next quarter is $0.09 and the low estimate is $0.09. The average estimate for the next quarter is thus $0.09.
Dividends & Yield:
In terms of dividends, DAKT has a dividend of $0.23 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and DAKT currently yields $0.79. In the past year, DAKT’s dividend yield has been $0.79, but when looking at the stock over the past five years, its yield has been $3.28. Accordingly, DAKT has a current buyback yield of $2.21. This was $2.21 for the TTM.
Summary of Insider Activity:
Insiders traded DAKT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 43 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 220,889 while 2,280 shares were sold.