Daktronics (NASDAQ:DAKT) Raised to Hold at Zacks Research

Daktronics (NASDAQ:DAKT) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

DAKT has been the topic of a number of other reports. Weiss Ratings downgraded Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 19th. Wall Street Zen upgraded Daktronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Finally, Roth Mkm initiated coverage on Daktronics in a research note on Wednesday, June 10th. They issued a “buy” rating and a $26.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Daktronics has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Daktronics Stock Performance

DAKT stock opened at $20.23 on Monday. The company has a market cap of $977.11 million, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 0.54 and a beta of 1.66. Daktronics has a 1 year low of $13.30 and a 1 year high of $28.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.68. The stock’s fifty day moving average price is $19.80 and its 200-day moving average price is $20.99.

Hedge Funds Weigh In On Daktronics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new stake in Daktronics during the third quarter valued at about $540,000. American Century Companies Inc. raised its holdings in Daktronics by 2.8% during the third quarter. American Century Companies Inc. now owns 1,664,668 shares of the technology company’s stock valued at $34,825,000 after acquiring an additional 44,731 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Daktronics during the fourth quarter valued at about $2,968,000. Legato Capital Management LLC bought a new stake in Daktronics during the fourth quarter valued at about $1,142,000. Finally, UBS Group AG raised its holdings in Daktronics by 41.2% during the fourth quarter. UBS Group AG now owns 150,669 shares of the technology company’s stock valued at $2,979,000 after acquiring an additional 43,949 shares during the period. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

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.