Daktronics (NASDAQ:DAKT) Upgraded at Zacks Research

Zacks Research upgraded shares of Daktronics (NASDAQ:DAKT) from a hold rating to a strong-buy rating in a research report report published on Thursday,Zacks.com reports.

Separately, Wall Street Zen upgraded Daktronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 6th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Strong Buy” and an average target price of $26.00.

Daktronics Stock Performance

NASDAQ DAKT opened at $23.39 on Thursday. The company has a market cap of $1.14 billion, a P/E ratio of 34.97, a P/E/G ratio of 0.68 and a beta of 1.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.07 and a quick ratio of 1.60. The stock has a 50-day moving average of $17.06 and a two-hundred day moving average of $14.82. Daktronics has a 1-year low of $10.24 and a 1-year high of $23.69.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, September 10th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.09. The business had revenue of $218.97 million during the quarter, compared to analysts’ expectations of $196.90 million. Daktronics had a return on equity of 14.64% and a net margin of 1.51%. As a group, analysts anticipate that Daktronics will post 0.96 EPS for the current year.

Insider Activity

In other news, insider Sheila Mae Anderson sold 3,839 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $16.86, for a total value of $64,725.54. Following the transaction, the insider owned 39,495 shares of the company’s stock, valued at approximately $665,885.70. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its holdings in shares of Daktronics by 3.2% in the second quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company’s stock valued at $357,000 after purchasing an additional 728 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Daktronics by 74.5% in the second quarter. Squarepoint Ops LLC now owns 116,413 shares of the technology company’s stock valued at $1,760,000 after purchasing an additional 49,684 shares during the period. Duquesne Family Office LLC increased its holdings in shares of Daktronics by 0.3% in the second quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company’s stock valued at $46,513,000 after purchasing an additional 8,599 shares during the period. Gallagher Fiduciary Advisors LLC increased its holdings in shares of Daktronics by 21.6% in the second quarter. Gallagher Fiduciary Advisors LLC now owns 18,942 shares of the technology company’s stock valued at $286,000 after purchasing an additional 3,370 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in shares of Daktronics in the second quarter valued at approximately $925,000. Institutional investors and hedge funds own 61.69% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays 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.