Daktronics (NASDAQ:DAKT) Upgraded at Zacks Research

Zacks Research upgraded shares of Daktronics (NASDAQ:DAKT) from a hold rating to a strong-buy rating in a report published on Monday,Zacks reports.

Several other equities research analysts have also recently commented on DAKT. Craig Hallum reaffirmed a “buy” rating and set a $33.00 price objective on shares of Daktronics in a research report on Thursday, September 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Daktronics in a research note on Tuesday, September 22nd. Roth Capital raised their price target on shares of Daktronics from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded shares of Daktronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $31.00.

Daktronics Price Performance

Shares of NASDAQ DAKT opened at $17.81 on Monday. The firm has a market cap of $856.48 million, a P/E ratio of 18.17, a PEG ratio of 0.58 and a beta of 1.68. Daktronics has a twelve month low of $16.77 and a twelve month high of $28.27. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $19.05 and a 200 day moving average of $19.58.

Daktronics (NASDAQ:DAKT) last issued its earnings results on Wednesday, September 2nd. The technology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. Daktronics had a return on equity of 18.05% and a net margin of 5.66%.The business had revenue of $234.57 million for the quarter, compared to the consensus estimate of $230.27 million. During the same period last year, the business posted $0.33 EPS. As a group, research analysts expect that Daktronics will post 1.24 EPS for the current fiscal year.

Insider Transactions at Daktronics

In other Daktronics news, EVP Bradley Wiemann sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, July 17th. The shares were sold at an average price of $19.22, for a total transaction of $76,880.00. Following the completion of the sale, the executive vice president directly owned 125,946 shares of the company’s stock, valued at approximately $2,420,682.12. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DAKT. IFP Advisors Inc raised its holdings in Daktronics by 231.6% during the second quarter. IFP Advisors Inc now owns 3,270 shares of the technology company’s stock valued at $64,000 after acquiring an additional 2,284 shares during the period. Corient Private Wealth LP lifted its position in shares of Daktronics by 38.4% in the second quarter. Corient Private Wealth LP now owns 18,237 shares of the technology company’s stock valued at $357,000 after acquiring an additional 5,063 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Daktronics in the second quarter worth about $328,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Daktronics by 10.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 83,747 shares of the technology company’s stock worth $1,638,000 after acquiring an additional 8,143 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of Daktronics during the second quarter worth about $1,374,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

About Daktronics

Daktronics, Inc designs and manufactures electronic display systems and related control solutions. Its products include LED video displays, scoreboards, digital billboards, message centers, dynamic signage, and display-control systems used to present live information, advertising, entertainment, and public communications.

The company serves a range of markets, including professional and collegiate sports, schools, commercial businesses, transportation networks, government agencies, and other public venues.