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 released on Tuesday morning,Zacks.com reports.

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

Daktronics Stock Performance

Shares of DAKT opened at $21.97 on Tuesday. The company has a 50-day moving average of $19.45 and a two-hundred day moving average of $18.86. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 169.01, a PEG ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.23 and a quick ratio of 1.71. Daktronics has a one year low of $10.24 and a one year high of $24.38.

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

Institutional Investors Weigh In On Daktronics

A number of institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Daktronics by 0.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 77,264 shares of the technology company’s stock valued at $1,503,000 after acquiring an additional 665 shares in the last quarter. Osaic Holdings Inc. grew its stake in 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 in the last quarter. Exchange Traded Concepts LLC increased its position in Daktronics by 5.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 13,195 shares of the technology company’s stock worth $261,000 after purchasing an additional 730 shares during the last quarter. Verition Fund Management LLC increased its position in Daktronics by 3.3% in the 3rd quarter. Verition Fund Management LLC now owns 27,983 shares of the technology company’s stock worth $585,000 after purchasing an additional 898 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Daktronics by 12.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 9,902 shares of the technology company’s stock worth $207,000 after purchasing an additional 1,097 shares during the last quarter. Institutional investors and hedge funds 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.