Daktronics (NASDAQ:DAKT) Stock Rating Upgraded by Zacks Research

Daktronics (NASDAQ:DAKT) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

DAKT has been the topic of several other reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Daktronics in a research report on Tuesday, September 22nd. Roth Capital boosted their price objective on shares of Daktronics from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Craig Hallum restated a “buy” rating and issued a $33.00 price objective on shares of Daktronics in a research note on Thursday, September 3rd. Finally, Wall Street Zen raised Daktronics from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $31.00.

Daktronics Trading Up 0.3%

Daktronics stock opened at $17.85 on Monday. Daktronics has a 52-week low of $16.77 and a 52-week high of $28.27. The company has a market cap of $858.41 million, a P/E ratio of 18.21, a P/E/G ratio of 0.57 and a beta of 1.68. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $19.09 and a two-hundred day simple moving average of $19.60.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data on Wednesday, September 2nd. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $234.57 million for the quarter, compared to the consensus estimate of $230.27 million. Daktronics had a net margin of 5.66% and a return on equity of 18.05%. During the same quarter last year, the firm posted $0.33 earnings per share. Analysts predict that Daktronics will post 1.24 EPS for the current year.

Insiders Place Their Bets

In other Daktronics news, EVP Bradley Wiemann sold 4,000 shares of the stock in a transaction on Friday, July 17th. The stock was sold at an average price of $19.22, for a total value of $76,880.00. Following the completion of the sale, the executive vice president owned 125,946 shares in the company, valued at approximately $2,420,682.12. This represents a 3.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Daktronics

A number of hedge funds have recently made changes to their positions in the business. IFP Advisors Inc grew its position in shares of Daktronics by 231.6% during the second quarter. IFP Advisors Inc now owns 3,270 shares of the technology company’s stock worth $64,000 after purchasing an additional 2,284 shares in the last quarter. Corient Private Wealth LP lifted its holdings in Daktronics by 38.4% in the 2nd quarter. Corient Private Wealth LP now owns 18,237 shares of the technology company’s stock worth $357,000 after purchasing an additional 5,063 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Daktronics in the 2nd quarter worth approximately $328,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Daktronics by 10.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 83,747 shares of the technology company’s stock worth $1,638,000 after purchasing an additional 8,143 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Daktronics during the 2nd quarter valued at approximately $1,374,000. Institutional investors own 61.69% of the company’s stock.

About Daktronics

Daktronics, Inc designs and manufactures electronic display systems and related control solutions. Its products include LED video displays, scoreboards, digital billboards, message centers, dynamic signage, and display-control systems used to present live information, advertising, entertainment, and public communications.

The company serves a range of markets, including professional and collegiate sports, schools, commercial businesses, transportation networks, government agencies, and other public venues.