Zacks Investment Research upgraded shares of Daktronics Inc. (NASDAQ:DAKT) from a hold rating to a strong-buy rating in a report issued on Monday morning. Zacks Investment Research currently has $12.00 target price on the stock.

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. “

DAKT has been the topic of several other reports. Needham & Company LLC reaffirmed a buy rating and set a $11.00 target price (up from $9.50) on shares of Daktronics in a research report on Saturday. TheStreet raised Daktronics from a hold rating to a buy rating in a research report on Monday, November 21st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Daktronics has a consensus rating of Buy and a consensus price target of $11.50.

Daktronics (NASDAQ:DAKT) opened at 10.81 on Monday. The firm’s 50-day moving average is $8.97 and its 200 day moving average is $7.99. The company has a market cap of $474.26 million, a price-to-earnings ratio of 124.25 and a beta of 1.39. Daktronics has a 12-month low of $5.92 and a 12-month high of $10.81.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Tuesday, November 22nd. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.09. The firm earned $170 million during the quarter, compared to analyst estimates of $161.50 million. Daktronics had a return on equity of 4.76% and a net margin of 1.64%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. On average, equities analysts expect that Daktronics will post $0.29 earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the stock. 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 valued at $27,043,000 after buying an additional 281,478 shares during the last quarter. 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 valued at $11,779,000 after buying an additional 101,159 shares during the last quarter. 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 valued at $11,320,000 after buying an additional 215,162 shares during the last quarter. 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 valued at $9,160,000 after buying an additional 8,705 shares during the last quarter. Finally, State Street Corp increased its stake 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 46.67% of the company’s stock.

About Daktronics

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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