Daktronics, Inc. (NASDAQ:DAKT) Stock Rating Upgraded by BidaskClub
Daktronics, Inc. (NASDAQ:DAKT) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday.
Separately, Zacks Investment Research upgraded shares of Daktronics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $12.17.
Daktronics (DAKT) traded up 0.21% during mid-day trading on Thursday, reaching $9.62. 73,781 shares of the company’s stock were exchanged. The company has a 50-day moving average of $9.67 and a 200-day moving average of $9.58. The stock has a market cap of $425.04 million, a price-to-earnings ratio of 41.83 and a beta of 1.30. Daktronics has a 52-week low of $6.62 and a 52-week high of $11.12.
Daktronics (NASDAQ:DAKT) last released its quarterly earnings data on Wednesday, May 31st. The technology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by $0.04. Daktronics had a net margin of 1.76% and a return on equity of 5.14%. The firm had revenue of $143.70 million during the quarter, compared to the consensus estimate of $141.50 million. During the same quarter last year, the business posted ($0.07) earnings per share. Daktronics’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Daktronics will post $0.36 earnings per share for the current year.
In other news, Director John L. Mulligan sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $9.83, for a total value of $157,280.00. Following the completion of the transaction, the director now directly owns 72,953 shares in the company, valued at $717,127.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Mulligan sold 37,307 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $13.20, for a total transaction of $492,452.40. Following the completion of the transaction, the director now owns 67,182 shares of the company’s stock, valued at $886,802.40. The disclosure for this sale can be found here. Insiders sold 67,661 shares of company stock valued at $791,626 over the last 90 days. 8.20% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Daktronics during the fourth quarter worth approximately $4,261,000. Scout Investments Inc. purchased a new position in Daktronics during the first quarter worth approximately $1,794,000. RidgeWorth Capital Management LLC raised its position in Daktronics by 15.2% in the first quarter. RidgeWorth Capital Management LLC now owns 1,580,957 shares of the technology company’s stock worth $14,940,000 after buying an additional 209,008 shares during the period. Dimensional Fund Advisors LP raised its position in Daktronics by 7.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,431,333 shares of the technology company’s stock worth $22,976,000 after buying an additional 176,024 shares during the period. Finally, Vanguard Group Inc. raised its position in Daktronics by 6.1% in the first quarter. Vanguard Group Inc. now owns 2,059,535 shares of the technology company’s stock worth $19,462,000 after buying an additional 118,435 shares during the period. Institutional investors own 51.47% of the company’s stock.
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.
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