Daktronics (NASDAQ:DAKT) Stock Rating Raised to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Daktronics (NASDAQ:DAKT) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks reports.

Several other equities analysts also recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Daktronics in a research note on Tuesday, September 22nd. Wall Street Zen upgraded Daktronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Roth Capital upped their target price on Daktronics from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Craig Hallum restated a “buy” rating and issued a $33.00 price target on shares of Daktronics in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Daktronics has an average rating of “Buy” and an average target price of $31.00.

Daktronics Stock Performance

Shares of Daktronics stock opened at $17.85 on Monday. Daktronics has a 12 month low of $16.77 and a 12 month high of $28.27. The stock has a market capitalization of $858.41 million, a price-to-earnings ratio of 18.21, a PEG ratio of 0.57 and a beta of 1.68. The firm’s fifty day simple moving average is $19.09 and its 200-day simple moving average is $19.60. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.17 and a quick ratio of 1.66.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data on Wednesday, September 2nd. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $234.57 million for the quarter, compared to analyst estimates of $230.27 million. Daktronics had a net margin of 5.66% and a return on equity of 18.05%. During the same period last year, the firm posted $0.33 EPS. As a group, equities analysts forecast that Daktronics will post 1.24 earnings per share for the current year.

Insider Buying and Selling

In other Daktronics news, EVP Bradley Wiemann sold 4,000 shares of the business’s stock in a transaction on Friday, July 17th. The stock was sold at an average price of $19.22, for a total value of $76,880.00. Following the completion of the transaction, the executive vice president directly owned 125,946 shares in the company, valued at approximately $2,420,682.12. The trade was a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Daktronics

Several institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of Daktronics by 13.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,712 shares of the technology company’s stock valued at $151,000 after acquiring an additional 898 shares during the period. Cornerstone Planning Group LLC purchased a new stake in Daktronics during the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd increased its holdings in Daktronics by 22,566.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,354 shares in the last quarter. USA Financial Formulas increased its holdings in Daktronics by 3,057.8% in the 1st 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 purchased a new position in Daktronics in the second quarter valued at about $33,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Daktronics Company Profile

Daktronics, Inc designs and manufactures electronic display systems and related control solutions. Its products include LED video displays, scoreboards, digital billboards, message centers, dynamic signage, and display-control systems used to present live information, advertising, entertainment, and public communications.

The company serves a range of markets, including professional and collegiate sports, schools, commercial businesses, transportation networks, government agencies, and other public venues.