Daktronics Inc. (DAKT) Given “Buy” Rating at Needham & Company LLC
Needham & Company LLC reaffirmed their buy rating on shares of Daktronics Inc. (NASDAQ:DAKT) in a report issued on Saturday morning. Needham & Company LLC currently has a $11.00 price objective on the stock, up from their previous price objective of $9.50.
Several other equities research analysts have also recently commented on the company. TheStreet raised Daktronics from a hold rating to a buy rating in a research note on Monday, November 21st. Zacks Investment Research raised Daktronics from a hold rating to a buy rating and set a $9.25 price target for the company in a research note on Friday, November 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $10.13.
Daktronics (NASDAQ:DAKT) traded up 2.01% during mid-day trading on Friday, hitting $10.64. 140,325 shares of the stock were exchanged. Daktronics has a one year low of $5.92 and a one year high of $10.78. The company has a market cap of $466.80 million, a P/E ratio of 122.30 and a beta of 1.39. The company has a 50-day moving average price of $8.93 and a 200-day moving average price of $7.98.
Daktronics (NASDAQ:DAKT) last announced its quarterly earnings results on Tuesday, November 22nd. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.09. The business earned $170 million during the quarter, compared to analysts’ expectations of $161.50 million. Daktronics had a return on equity of 4.76% and a net margin of 1.64%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. On average, analysts predict that Daktronics will post $0.29 earnings per share for the current fiscal year.
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A number of large investors have recently bought and sold shares of the company. BlackRock Fund Advisors raised 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 valued at $27,043,000 after buying an additional 281,478 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Daktronics by 1,413.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 242,362 shares of the company’s stock valued at $2,312,000 after buying an additional 226,348 shares during the period. Vanguard Group Inc. raised 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 valued at $11,320,000 after buying an additional 215,162 shares during the period. Morgan Stanley raised its stake in Daktronics by 260.8% in the third quarter. Morgan Stanley now owns 252,039 shares of the company’s stock valued at $2,405,000 after buying an additional 182,189 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Daktronics during the third quarter valued at $1,482,000. Hedge funds and other institutional investors own 43.96% of the company’s stock.
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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