Daktronics (DAKT) Downgraded by BidaskClub to “Sell”
BidaskClub lowered shares of Daktronics (NASDAQ:DAKT) from a hold rating to a sell rating in a report published on Tuesday morning.
Separately, ValuEngine raised Daktronics from a sell rating to a hold rating in a research note on Thursday, July 5th. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Daktronics has an average rating of Hold and an average price target of $10.00.
Shares of DAKT stock opened at $7.70 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.37. The firm has a market capitalization of $331.74 million, a PE ratio of 57.23 and a beta of 1.08. Daktronics has a fifty-two week low of $7.38 and a fifty-two week high of $10.86.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Daktronics by 7.7% during the second quarter. BlackRock Inc. now owns 5,220,944 shares of the technology company’s stock valued at $44,431,000 after acquiring an additional 373,936 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Daktronics by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,966,351 shares of the technology company’s stock valued at $25,244,000 after acquiring an additional 150,674 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Daktronics during the first quarter valued at $13,584,000. First Bank & Trust boosted its stake in shares of Daktronics by 26.7% during the second quarter. First Bank & Trust now owns 1,152,259 shares of the technology company’s stock valued at $9,806,000 after acquiring an additional 242,810 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Daktronics by 19.6% during the second quarter. Renaissance Technologies LLC now owns 708,000 shares of the technology company’s stock valued at $6,025,000 after acquiring an additional 116,200 shares during the last quarter. 59.70% of the stock is currently owned by institutional investors and hedge funds.
Daktronics Company Profile
Daktronics, Inc designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.
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