Daktronics (NASDAQ:DAKT – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.
A number of other equities research analysts have also recently commented on DAKT. Craig Hallum restated a “buy” rating and set a $33.00 target price on shares of Daktronics in a research report on Thursday, September 3rd. Wall Street Zen raised Daktronics from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Daktronics in a research report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Daktronics has a consensus rating of “Moderate Buy” and an average price target of $31.00.
Get Our Latest Research Report on DAKT
Daktronics Stock Performance
Shares of NASDAQ DAKT opened at $20.32 on Tuesday. The company’s fifty day moving average price is $18.60 and its 200 day moving average price is $20.42. Daktronics has a 1 year low of $16.77 and a 1 year high of $28.27. The company has a market capitalization of $977.19 million, a PE ratio of 20.73, a price-to-earnings-growth ratio of 0.62 and a beta of 1.72. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.17.
Daktronics (NASDAQ:DAKT – Get Free Report) last released its quarterly 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. The company had revenue of $234.57 million for the quarter, compared to analyst estimates of $230.27 million. Daktronics had a net margin of 5.66% and a return on equity of 18.05%. During the same quarter last year, the business earned $0.33 earnings per share. On average, research analysts predict that Daktronics will post 1.27 earnings per share for the current year.
Institutional Investors Weigh In On Daktronics
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Daktronics in the 2nd quarter worth $68,158,000. Bank of New York Mellon Corp acquired a new position in Daktronics during the second quarter worth $17,992,000. Renaissance Technologies LLC lifted its holdings in Daktronics by 13.1% during the first quarter. Renaissance Technologies LLC now owns 822,854 shares of the technology company’s stock valued at $16,087,000 after purchasing an additional 95,393 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in Daktronics by 161.2% during the first quarter. Hillsdale Investment Management Inc. now owns 392,089 shares of the technology company’s stock valued at $7,665,000 after purchasing an additional 241,969 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Daktronics by 282.7% during the first quarter. Lazard Asset Management LLC now owns 130,771 shares of the technology company’s stock valued at $2,557,000 after purchasing an additional 96,596 shares in the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.
Daktronics Company Profile
Daktronics, Inc designs and manufactures electronic display and audiovisual communication systems. Its products include large-format LED video displays, digital scoreboards, message centers, programmable display systems, control systems and related software. The company also provides installation, maintenance, content management and other support services for its display solutions.
Its products are used in sports venues, schools and universities, commercial properties, retail locations, transportation facilities and public spaces.
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