Daktronics (NASDAQ:DAKT) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Daktronics (NASDAQ:DAKT) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other equities research analysts have also commented on DAKT. Zacks Research lowered shares of Daktronics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 3rd. Weiss Ratings lowered Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, November 4th. Finally, Craig Hallum reissued a “buy” rating and issued a $33.00 target price on shares of Daktronics in a report on Thursday, September 3rd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Daktronics Trading Down 1.2%

DAKT traded down $0.24 during mid-day trading on Friday, hitting $19.26. 252,458 shares of the stock were exchanged, compared to its average volume of 452,462. The firm’s fifty day moving average is $18.63 and its two-hundred day moving average is $20.35. Daktronics has a 1-year low of $16.77 and a 1-year high of $28.27. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17. The company has a market cap of $926.21 million, a PE ratio of 19.65, a PEG ratio of 0.62 and a beta of 1.72.

Daktronics (NASDAQ:DAKT) last released its earnings results on Wednesday, September 2nd. The technology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The firm had revenue of $234.57 million during the quarter, compared to analysts’ expectations of $230.27 million. Daktronics had a return on equity of 18.05% and a net margin of 5.66%. During the same period in the previous year, the firm posted $0.33 EPS. Equities analysts forecast that Daktronics will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Daktronics

A number of institutional investors and hedge funds have recently bought and sold shares of DAKT. PNC Financial Services Group Inc. raised its stake in shares of Daktronics by 13.2% in the first quarter. PNC Financial Services Group Inc. now owns 7,712 shares of the technology company’s stock worth $151,000 after acquiring an additional 898 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Daktronics by 949.3% during the third quarter. Sterling Capital Management LLC now owns 1,469 shares of the technology company’s stock valued at $26,000 after purchasing an additional 1,329 shares during the last quarter. Cornerstone Planning Group LLC bought a new stake in shares of Daktronics during the first quarter valued at approximately $26,000. USA Financial Formulas increased its holdings in shares of Daktronics by 3,057.8% in the first quarter. USA Financial Formulas now owns 1,421 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,376 shares in the last quarter. Finally, State of Wyoming bought a new position in Daktronics in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc. designs and manufactures electronic display and control systems. Its products include LED video displays, scoreboards, digital billboards, message displays, audio systems and the software used to operate them. The company serves customers in settings such as sports venues, schools, retail and commercial locations, transportation facilities and public spaces. Its systems are used for live event presentation, advertising, information and public messaging. Founded in 1968 and headquartered in Brookings, South Dakota, Daktronics serves customers in the United States and internationally.