Daktronics (NASDAQ:DAKT) Downgraded to “Hold” Rating by Zacks Research

Daktronics (NASDAQ:DAKT) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Daktronics in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Daktronics Trading Down 0.5%

DAKT opened at $27.33 on Wednesday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 210.25, a P/E/G ratio of 0.80 and a beta of 1.73. The company has a current ratio of 2.23, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18. Daktronics has a 12 month low of $10.24 and a 12 month high of $28.22. The firm’s fifty day simple moving average is $21.96 and its 200 day simple moving average is $20.03.

Daktronics (NASDAQ:DAKT) last released its earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The firm had revenue of $229.25 million during the quarter, compared to analysts’ expectations of $213.93 million. Daktronics had a return on equity of 15.42% and a net margin of 0.96%.During the same quarter in the prior year, the company earned $0.27 EPS. As a group, research analysts anticipate that Daktronics will post 0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Daktronics

Several hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV increased its holdings in shares of Daktronics by 12.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,882 shares of the technology company’s stock worth $274,000 after acquiring an additional 1,544 shares during the last quarter. State of Tennessee Department of Treasury acquired a new stake in shares of Daktronics during the 4th quarter worth about $438,000. Mackenzie Financial Corp boosted its holdings in shares of Daktronics by 80.4% during the 4th quarter. Mackenzie Financial Corp now owns 122,099 shares of the technology company’s stock worth $2,390,000 after buying an additional 54,411 shares during the period. Uniplan Investment Counsel Inc. grew its stake in Daktronics by 34.8% in the 4th quarter. Uniplan Investment Counsel Inc. now owns 192,061 shares of the technology company’s stock valued at $3,797,000 after buying an additional 49,564 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in Daktronics in the 4th quarter valued at about $500,000. Institutional investors own 61.69% of the company’s stock.

About Daktronics

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.