Wall Street Zen Upgrades Daktronics (NASDAQ:DAKT) to “Strong-Buy”

Daktronics (NASDAQ:DAKT) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Sunday.

Separately, Zacks Research raised Daktronics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Strong Buy” and a consensus target price of $26.00.

Daktronics Stock Up 2.8%

Shares of Daktronics stock opened at $24.04 on Friday. Daktronics has a 12-month low of $10.24 and a 12-month high of $24.25. The firm has a market capitalization of $1.17 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 0.72 and a beta of 1.69. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $17.21 and its 200-day moving average is $14.88.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data on Wednesday, September 10th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.09. The company had revenue of $218.97 million during the quarter, compared to analyst estimates of $196.90 million. Daktronics had a net margin of 1.51% and a return on equity of 14.64%. Equities analysts anticipate that Daktronics will post 0.96 earnings per share for the current year.

Insider Buying and Selling

In other Daktronics news, insider Sheila Mae Anderson sold 3,839 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $16.86, for a total value of $64,725.54. Following the transaction, the insider directly owned 39,495 shares of the company’s stock, valued at $665,885.70. This represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Daktronics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Alta Fox Capital Management LLC raised its position in shares of Daktronics by 94.3% during the first quarter. Alta Fox Capital Management LLC now owns 5,973,599 shares of the technology company’s stock valued at $72,758,000 after buying an additional 2,899,263 shares during the last quarter. Duquesne Family Office LLC grew its position in Daktronics by 0.3% during the second quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company’s stock worth $46,513,000 after buying an additional 8,599 shares in the last quarter. Progeny 3 Inc. increased its stake in Daktronics by 7.3% during the second quarter. Progeny 3 Inc. now owns 2,650,037 shares of the technology company’s stock valued at $40,069,000 after acquiring an additional 179,529 shares during the period. Vanguard Group Inc. raised its holdings in Daktronics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 2,475,948 shares of the technology company’s stock valued at $30,157,000 after acquiring an additional 24,984 shares in the last quarter. Finally, Breach Inlet Capital Management LLC lifted its position in shares of Daktronics by 82.6% in the 1st quarter. Breach Inlet Capital Management LLC now owns 1,656,758 shares of the technology company’s stock worth $20,179,000 after acquiring an additional 749,444 shares during the period. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.