Daktronics (NASDAQ:DAKT) Raised to “Strong-Buy” at Zacks Research

Daktronics (NASDAQ:DAKT) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Daktronics in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Daktronics Trading Up 0.3%

Shares of NASDAQ DAKT traded up $0.06 during midday trading on Tuesday, reaching $22.07. 59,998 shares of the stock were exchanged, compared to its average volume of 323,540. The stock has a 50 day moving average price of $19.37 and a 200-day moving average price of $18.84. The company has a current ratio of 2.23, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.08 billion, a P/E ratio of 169.79, a P/E/G ratio of 0.62 and a beta of 1.72. Daktronics has a 52-week low of $10.24 and a 52-week high of $24.38.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, December 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The business had revenue of $229.25 million for the quarter, compared to the consensus estimate of $213.93 million. Daktronics had a net margin of 0.96% and a return on equity of 15.42%. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Equities research analysts expect that Daktronics will post 0.96 earnings per share for the current fiscal year.

Institutional Trading of Daktronics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new stake in shares of Daktronics during the 3rd quarter worth $25,000. State of Alaska Department of Revenue acquired a new stake in Daktronics during the 3rd quarter worth about $43,000. Northwestern Mutual Wealth Management Co. lifted its stake in Daktronics by 204.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after buying an additional 2,045 shares in the last quarter. Quaker Wealth Management LLC lifted its stake in Daktronics by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 3,800 shares of the technology company’s stock valued at $57,000 after buying an additional 7,600 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Daktronics by 66.8% in the second quarter. BNP Paribas Financial Markets now owns 3,897 shares of the technology company’s stock worth $59,000 after buying an additional 1,561 shares during the period. Institutional investors own 61.69% of the company’s stock.

About Daktronics

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.