Zacks Research Upgrades Daktronics (NASDAQ:DAKT) to “Strong-Buy”

Daktronics (NASDAQ:DAKT) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Daktronics in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Daktronics currently has a consensus rating of “Buy”.

Daktronics Price Performance

Shares of NASDAQ:DAKT opened at $22.01 on Tuesday. The company’s fifty day moving average is $19.37 and its two-hundred day moving average is $18.84. The company has a market cap of $1.07 billion, a P/E ratio of 169.32, a price-to-earnings-growth ratio of 0.62 and a beta of 1.72. Daktronics has a 12-month low of $10.24 and a 12-month high of $24.38. The company has a quick ratio of 1.71, a current ratio of 2.23 and a debt-to-equity ratio of 0.18.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Daktronics had a return on equity of 15.42% and a net margin of 0.96%.The business had revenue of $229.25 million for the quarter, compared to the consensus estimate of $213.93 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. Equities analysts expect that Daktronics will post 0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Daktronics

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Daktronics during the 3rd quarter worth $25,000. State of Alaska Department of Revenue acquired a new position in Daktronics during the 3rd quarter worth $43,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Daktronics by 204.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after acquiring an additional 2,045 shares during the period. Quaker Wealth Management LLC grew its position in shares of Daktronics by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 3,800 shares of the technology company’s stock valued at $57,000 after purchasing an additional 7,600 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Daktronics by 66.8% in the second quarter. BNP Paribas Financial Markets now owns 3,897 shares of the technology company’s stock worth $59,000 after purchasing an additional 1,561 shares during the period. Institutional investors own 61.69% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.