Daktronics, Inc. (DAKT) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Daktronics, Inc. (NASDAQ:DAKT) from a hold rating to a buy rating in a research note released on Thursday morning. The firm currently has $11.00 price objective on the technology company’s 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. “
Separately, BidaskClub raised shares of Daktronics from a sell rating to a hold rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Daktronics has an average rating of Buy and a consensus price target of $11.83.
Daktronics (DAKT) opened at 9.40 on Thursday. The stock has a market capitalization of $415.88 million, a PE ratio of 32.30 and a beta of 1.30. Daktronics has a 12-month low of $7.84 and a 12-month high of $11.12. The stock’s 50 day moving average price is $9.58 and its 200-day moving average price is $9.49.
Daktronics (NASDAQ:DAKT) last posted its earnings results on Tuesday, August 22nd. The technology company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.06. The firm had revenue of $172.70 million for the quarter, compared to the consensus estimate of $165 million. Daktronics had a net margin of 2.20% and a return on equity of 6.53%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. Analysts expect that Daktronics will post $0.38 earnings per share for the current year.
In other Daktronics news, Director John L. Mulligan sold 37,307 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $13.20, for a total transaction of $492,452.40. Following the transaction, the director now directly owns 67,182 shares of the company’s stock, valued at $886,802.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Mulligan sold 16,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $9.83, for a total transaction of $157,280.00. Following the transaction, the director now directly owns 72,953 shares in the company, valued at $717,127.99. The disclosure for this sale can be found here. Insiders have sold 70,649 shares of company stock worth $821,506 over the last three months. Company insiders own 8.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in Daktronics during the fourth quarter valued at approximately $173,000. Norges Bank acquired a new position in Daktronics during the fourth quarter valued at approximately $4,261,000. Louisiana State Employees Retirement System increased its position in Daktronics by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,300 shares of the technology company’s stock valued at $154,000 after buying an additional 200 shares during the last quarter. Mondrian Investment Partners LTD increased its position in Daktronics by 0.9% in the first quarter. Mondrian Investment Partners LTD now owns 339,889 shares of the technology company’s stock valued at $3,212,000 after buying an additional 3,005 shares during the last quarter. Finally, Strs Ohio acquired a new position in Daktronics during the first quarter valued at approximately $622,000. 50.63% of the stock is currently owned by hedge funds and other institutional investors.
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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