Daktronics Inc. (NASDAQ:DAKT) shares were up 2.1% on Wednesday . The stock traded as high as $6.91 and last traded at $6.90, with a volume of 253,974 shares. The stock had previously closed at $6.76.

Several research analysts have recently weighed in on DAKT shares. Zacks Investment Research downgraded Daktronics from a “hold” rating to a “strong sell” rating in a research note on Monday, June 6th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective (down previously from $9.00) on shares of Daktronics in a report on Thursday, June 2nd. Sidoti cut Daktronics from a “buy” rating to a “neutral” rating in a report on Wednesday, June 1st. Finally, Griffin Securities cut Daktronics from a “buy” rating to a “neutral” rating in a report on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Daktronics has a consensus rating of “Hold” and an average price target of $8.00.

The stock has a 50 day moving average price of $6.54 and a 200 day moving average price of $7.58. The company has a market cap of $297.19 million and a price-to-earnings ratio of 143.40.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, June 1st. The company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.15. The firm earned $138.50 million during the quarter. During the same period in the previous year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. Equities analysts expect that Daktronics Inc. will post $0.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Monday, June 27th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Thursday, June 23rd.

In other Daktronics news, Director Kevin Patrick Mcdermott purchased 3,900 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The stock was purchased at an average price of $6.48 per share, for a total transaction of $25,272.00. Following the completion of the purchase, the director now directly owns 11,121 shares of the company’s stock, valued at $72,064.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Reece A. Kurtenbach purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 28th. The stock was acquired at an average price of $6.20 per share, with a total value of $62,000.00. Following the purchase, the chief executive officer now directly owns 258,958 shares of the company’s stock, valued at $1,605,539.60. The disclosure for this purchase can be found here.

Several hedge funds have recently modified their holdings of DAKT. Morgan Stanley raised its stake in shares of Daktronics by 1.6% in the fourth quarter. Morgan Stanley now owns 142,236 shares of the company’s stock valued at $1,240,000 after buying an additional 2,204 shares during the last quarter. State of Wisconsin Investment Board raised its stake in shares of Daktronics by 0.9% in the fourth quarter. State of Wisconsin Investment Board now owns 516,362 shares of the company’s stock valued at $4,503,000 after buying an additional 4,586 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Daktronics by 6.7% in the fourth quarter. First Trust Advisors LP now owns 137,241 shares of the company’s stock valued at $1,197,000 after buying an additional 8,674 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Daktronics by 31.4% in the fourth quarter. GSA Capital Partners LLP now owns 154,900 shares of the company’s stock valued at $1,351,000 after buying an additional 36,996 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Daktronics by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,647,440 shares of the company’s stock valued at $14,366,000 after buying an additional 92,769 shares during the last quarter.

Daktronics Inc (Daktronics) is a supplier of electronic scoreboards, large electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates in five segments: Commercial, Live Events, High School Park and Recreation, Transportation and International.

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