Daktronics (DAKT) Stock Rating Upgraded by Zacks Investment Research

Daktronics (NASDAQ:DAKT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Daktronics Inc. has strong leadership positions in, and is one of the world’s largest suppliers of, electronic scoreboards, computer-programmable displays, and large screen video displays and control systems. The company excels in the control of large display systems, including those that require integration of multiple complex displays showing real-time information, graphics, animation and video. Daktronics designs, manufactures, markets and services display systems for customers around the world in sport, business and transportation applications. “

Several other research firms also recently commented on DAKT. TheStreet raised shares of Daktronics from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. BidaskClub downgraded shares of Daktronics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 6th.

Shares of Daktronics (DAKT) opened at $9.16 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market cap of $408.72, a price-to-earnings ratio of 36.76 and a beta of 1.23. Daktronics has a 52 week low of $7.84 and a 52 week high of $11.02.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Tuesday, November 21st. The technology company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $169.30 million for the quarter, compared to the consensus estimate of $172.55 million. Daktronics had a return on equity of 5.56% and a net margin of 1.89%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 earnings per share. equities research analysts predict that Daktronics will post 0.36 EPS for the current year.

In other news, insider Carla S. Gatzke sold 2,996 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $10.27, for a total transaction of $30,768.92. Following the completion of the sale, the insider now directly owns 435,063 shares of the company’s stock, valued at $4,468,097.01. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 8.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Daktronics in the 3rd quarter worth about $246,000. GSA Capital Partners LLP grew its position in Daktronics by 72.0% in the 3rd quarter. GSA Capital Partners LLP now owns 67,605 shares of the technology company’s stock worth $715,000 after purchasing an additional 28,300 shares in the last quarter. Algert Global LLC bought a new stake in Daktronics in the 3rd quarter worth about $805,000. Jane Street Group LLC bought a new stake in Daktronics in the 3rd quarter worth about $130,000. Finally, OxFORD Asset Management LLP grew its position in Daktronics by 153.2% in the 3rd quarter. OxFORD Asset Management LLP now owns 50,206 shares of the technology company’s stock worth $531,000 after purchasing an additional 30,380 shares in the last quarter. 53.63% of the stock is owned by institutional investors and hedge funds.

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Daktronics Company Profile

Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.

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