Wall Street Zen downgraded shares of Daktronics (NASDAQ:DAKT – Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.
A number of other research firms also recently issued reports on DAKT. Zacks Research raised Daktronics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Craig Hallum restated a “buy” rating and issued a $33.00 price target on shares of Daktronics in a research report on Thursday. Roth Capital boosted their price target on Daktronics from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Weiss Ratings raised Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.
Read Our Latest Research Report on Daktronics
Daktronics Price Performance
Daktronics (NASDAQ:DAKT – Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The technology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $230.27 million. During the same period in the previous year, the firm earned $0.33 earnings per share. Research 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 Daktronics stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $19.22, for a total value of $76,880.00. Following the transaction, the executive vice president directly owned 125,946 shares of the company’s stock, valued at $2,420,682.12. The trade was a 3.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sheila Anderson sold 3,636 shares of the 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 of the company’s stock, valued at approximately $967,903.71. This trade represents a 6.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.60% of the company’s stock.
Institutional Trading of Daktronics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LP lifted its holdings in Daktronics by 38.4% in the second quarter. Corient Private Wealth LP now owns 18,237 shares of the technology company’s stock worth $357,000 after buying an additional 5,063 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Daktronics in the second quarter worth approximately $328,000. California State Teachers Retirement System grew its stake in shares of Daktronics by 2,359.9% during the 2nd quarter. California State Teachers Retirement System now owns 893,207 shares of the technology company’s stock valued at $17,471,000 after purchasing an additional 856,897 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Daktronics by 10.8% in the 2nd 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 buying an additional 8,143 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Daktronics during the 2nd quarter valued at approximately $1,374,000. Hedge funds and other 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.
Read More
- Five stocks we like better than Daktronics
- 3 Under-the-Radar Defense Stocks With Record Backlogs
- This Korea ETF Has Soared, But the Rally May Not Be Over
- Why Guidewire’s Post-Earnings Plunge May Not Last
- Ride-Share Reckoning: Tesla Drives Into Uber’s Lane
Receive News & Ratings for Daktronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Daktronics and related companies with MarketBeat.com's FREE daily email newsletter.
