Daktronics (NASDAQ:DAKT) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Daktronics (NASDAQ:DAKT) 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 research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Daktronics presently has a consensus rating of “Hold”.

Daktronics Trading Up 1.5%

Shares of DAKT opened at $27.73 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.71 and a current ratio of 2.23. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 213.32, a PEG ratio of 0.80 and a beta of 1.73. The stock has a fifty day moving average price of $22.14 and a two-hundred day moving average price of $20.11. Daktronics has a 52-week low of $10.24 and a 52-week high of $28.22.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $213.93 million. During the same quarter in the prior year, the company earned $0.27 EPS. Analysts predict that Daktronics will post 0.96 EPS for the current fiscal year.

Institutional Trading of Daktronics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Duquesne Family Office LLC boosted its position in shares of Daktronics by 0.3% in the 2nd quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company’s stock worth $46,513,000 after purchasing an additional 8,599 shares during the last quarter. Progeny 3 Inc. lifted its stake in Daktronics by 3.6% in the third quarter. Progeny 3 Inc. now owns 2,746,408 shares of the technology company’s stock valued at $57,455,000 after buying an additional 96,371 shares during the period. American Century Companies Inc. boosted 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 worth $34,825,000 after buying an additional 44,731 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Daktronics by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 1,352,441 shares of the technology company’s stock worth $20,449,000 after buying an additional 7,999 shares during the last quarter. Finally, Breach Inlet Capital Management LLC increased its stake in shares of Daktronics by 32.8% in the 4th quarter. Breach Inlet Capital Management LLC now owns 1,272,552 shares of the technology company’s stock valued at $25,158,000 after acquiring an additional 314,133 shares during the last quarter. 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.