Daktronics Inc. (DAKT) Stock Rating Upgraded by TheStreet
Daktronics Inc. (NASDAQ:DAKT) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a research report issued on Monday.
A number of other research firms have also weighed in on DAKT. Zacks Investment Research raised shares of Daktronics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Needham & Company LLC raised their price objective on shares of Daktronics from $8.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, August 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $9.38.
Shares of Daktronics (NASDAQ:DAKT) opened at 9.99 on Monday. Daktronics has a one year low of $5.92 and a one year high of $10.08. The stock’s 50 day moving average is $8.88 and its 200-day moving average is $7.94. The company has a market cap of $438.28 million, a P/E ratio of 114.83 and a beta of 1.39.
Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Tuesday, November 22nd. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. Daktronics had a net margin of 0.66% and a return on equity of 1.87%. The company had revenue of $170 million for the quarter, compared to analyst estimates of $161.50 million. During the same period last year, the firm earned $0.07 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Daktronics will post $0.29 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of DAKT. BlackRock Fund Advisors increased its stake in Daktronics by 11.0% in the third quarter. BlackRock Fund Advisors now owns 2,834,716 shares of the company’s stock worth $27,043,000 after buying an additional 281,478 shares during the period. Dimensional Fund Advisors LP increased its stake in Daktronics by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,884,585 shares of the company’s stock worth $11,779,000 after buying an additional 101,159 shares during the period. Vanguard Group Inc. increased its stake in Daktronics by 13.5% in the second quarter. Vanguard Group Inc. now owns 1,811,050 shares of the company’s stock worth $11,320,000 after buying an additional 215,162 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Daktronics by 0.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 960,201 shares of the company’s stock worth $9,160,000 after buying an additional 8,705 shares during the period. Finally, State Street Corp increased its position in Daktronics by 2.9% in the second quarter. State Street Corp now owns 735,271 shares of the company’s stock valued at $4,597,000 after buying an additional 20,498 shares during the last quarter. Institutional investors and hedge funds own 43.96% of the company’s stock.
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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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