Daktronics (NASDAQ:DAKT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Daktronics (NASDAQ:DAKT) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Daktronics Price Performance

Shares of NASDAQ:DAKT opened at $11.81 on Thursday. The firm has a market cap of $546.76 million, a PE ratio of 19.36, a price-to-earnings-growth ratio of 0.43 and a beta of 1.14. The firm’s fifty day moving average is $14.28 and its 200-day moving average is $11.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.37 and a current ratio of 2.09. Daktronics has a 52 week low of $7.20 and a 52 week high of $15.97.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, June 26th. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The company had revenue of $215.88 million for the quarter, compared to analyst estimates of $179.28 million. Daktronics had a net margin of 4.23% and a return on equity of 25.55%. Sell-side analysts predict that Daktronics will post 1.13 earnings per share for the current year.

Insider Transactions at Daktronics

In other news, CEO Reece A. Kurtenbach sold 15,000 shares of Daktronics stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.87, for a total transaction of $208,050.00. Following the transaction, the chief executive officer now owns 457,963 shares in the company, valued at $6,351,946.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Matthew John Kurtenbach sold 2,000 shares of Daktronics stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $14.96, for a total transaction of $29,920.00. Following the completion of the transaction, the vice president now owns 208,906 shares of the company’s stock, valued at $3,125,233.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Reece A. Kurtenbach sold 15,000 shares of Daktronics stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.87, for a total transaction of $208,050.00. Following the transaction, the chief executive officer now directly owns 457,963 shares of the company’s stock, valued at approximately $6,351,946.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,811 shares of company stock worth $692,532. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Daktronics

A number of hedge funds have recently bought and sold shares of the company. CWM LLC raised its stake in Daktronics by 31.4% during the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after buying an additional 872 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Daktronics by 92.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,108 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in Daktronics by 150.0% in the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,400 shares in the last quarter. Anchor Capital Advisors LLC increased its stake in Daktronics by 1.9% in the second quarter. Anchor Capital Advisors LLC now owns 148,387 shares of the technology company’s stock valued at $2,070,000 after purchasing an additional 2,778 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new stake in Daktronics in the first quarter valued at $34,000. Institutional investors own 61.69% of the company’s stock.

About Daktronics

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.