Daktronics, Inc. (NASDAQ:DAKT) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Separately, Zacks Investment Research raised shares of Daktronics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $12.17.

Daktronics (DAKT) opened at 9.40 on Friday. Daktronics has a 12-month low of $6.83 and a 12-month high of $11.12. The stock’s 50 day moving average price is $9.63 and its 200 day moving average price is $9.55. The company has a market capitalization of $415.32 million, a price-to-earnings ratio of 40.87 and a beta of 1.30.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, May 31st. The technology company reported $0.02 earnings per share (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 business had revenue of $143.70 million during the quarter, compared to the consensus estimate of $141.50 million. During the same period in the previous year, the business posted ($0.07) earnings per share. Daktronics’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that Daktronics will post $0.36 earnings per share for the current fiscal year.

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In other news, Director John L. Mulligan sold 37,307 shares of Daktronics stock in a transaction 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 transaction, the director now directly owns 67,182 shares of the company’s stock, valued at $886,802.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Mulligan sold 16,000 shares of Daktronics stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $9.83, for a total transaction of $157,280.00. Following the transaction, the director now directly owns 72,953 shares in the company, valued at $717,127.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,661 shares of company stock worth $791,626. Insiders own 8.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. UBS Asset Management Americas Inc. boosted its position in shares of Daktronics by 0.5% in the second quarter. UBS Asset Management Americas Inc. now owns 12,084 shares of the technology company’s stock worth $116,000 after buying an additional 64 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Daktronics by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,300 shares of the technology company’s stock worth $154,000 after buying an additional 200 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of Daktronics by 0.8% in the second quarter. Texas Permanent School Fund now owns 29,279 shares of the technology company’s stock worth $282,000 after buying an additional 245 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Daktronics by 1.5% in the first quarter. Arizona State Retirement System now owns 20,891 shares of the technology company’s stock worth $197,000 after buying an additional 300 shares in the last quarter. Finally, Aperio Group LLC boosted its position in shares of Daktronics by 3.6% in the second quarter. Aperio Group LLC now owns 14,850 shares of the technology company’s stock worth $143,000 after buying an additional 512 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors.

Daktronics Company Profile

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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