Daktronics (NASDAQ:DAKT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Daktronics (NASDAQ:DAKT) from a hold rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Daktronics in a research report on Tuesday, September 22nd. Roth Capital upped their target price on Daktronics from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Zacks Research raised Daktronics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Craig Hallum reiterated a “buy” rating and issued a $33.00 price target on shares of Daktronics in a report on Thursday, September 3rd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Daktronics currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Daktronics Stock Performance

Daktronics stock opened at $17.05 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average of $19.32 and a 200-day moving average of $19.72. The firm has a market cap of $819.93 million, a P/E ratio of 17.40, a P/E/G ratio of 0.55 and a beta of 1.68. Daktronics has a 1-year low of $16.77 and a 1-year high of $28.27.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, September 2nd. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $234.57 million for the quarter, compared to analysts’ expectations of $230.27 million. Daktronics had a return on equity of 18.05% and a net margin of 5.66%.During the same period last year, the firm earned $0.33 earnings per share. Sell-side analysts expect that Daktronics will post 1.24 EPS for the current year.

Insider Transactions at Daktronics

In other Daktronics news, EVP Bradley Wiemann sold 4,000 shares of the firm’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $19.22, for a total value of $76,880.00. Following the completion of the sale, the executive vice president directly owned 125,946 shares in the company, valued at $2,420,682.12. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Sheila Anderson sold 3,636 shares of Daktronics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $20.01, for a total value of $72,756.36. Following the sale, the insider directly owned 48,371 shares in the company, valued at approximately $967,903.71. The trade was a 6.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Planning Group LLC purchased a new stake in Daktronics in the first quarter worth $26,000. Caitong International Asset Management Co. Ltd raised its holdings in Daktronics by 22,566.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,354 shares in the last quarter. USA Financial Formulas raised its holdings in Daktronics by 3,057.8% in the first quarter. USA Financial Formulas now owns 1,421 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,376 shares in the last quarter. State of Wyoming purchased a new position in Daktronics during the second quarter valued at $33,000. Finally, Clearstead Advisors LLC purchased a new position in Daktronics during the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

About Daktronics

Daktronics, Inc designs, manufactures and sells electronic display and control systems. Its products include large-format LED video displays, digital scoreboards, message centers, digital signage, display controllers and related audio systems.

The company serves sports and entertainment venues, schools and universities, commercial and retail organizations, transportation facilities, government institutions and other customers that use visual communications. Daktronics also provides installation, maintenance, content management and other support services for its display systems.

Founded in 1968 and headquartered in Brookings, South Dakota, Daktronics serves customers in the United States and international markets.