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.

TRADEMARK VIOLATION NOTICE: “Daktronics Inc. (DAKT) Stock Rating Upgraded by TheStreet” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2016/11/23/daktronics-inc-dakt-stock-rating-upgraded-by-thestreet.html.

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.

5 Day Chart for NASDAQ:DAKT

Receive News & Stock Ratings for Daktronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Daktronics Inc. and related stocks with our FREE daily email newsletter.