Zacks Research cut shares of Daktronics (NASDAQ:DAKT – Free Report) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks reports.
Several other equities analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Daktronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Craig Hallum reissued a “buy” rating and set a $33.00 target price on shares of Daktronics in a research note on Thursday, September 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Daktronics in a report on Tuesday, September 22nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.
Check Out Our Latest Stock Report on Daktronics
Daktronics Stock Performance
DAKT opened at $20.32 on Tuesday. The business has a 50 day moving average price of $18.60 and a two-hundred day moving average price of $20.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.17 and a quick ratio of 1.66. The company has a market capitalization of $977.19 million, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 0.62 and a beta of 1.72. Daktronics has a 1-year low of $16.77 and a 1-year high of $28.27.
Daktronics (NASDAQ:DAKT – Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The technology company reported $0.40 earnings per share 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 during the quarter, compared to analyst estimates of $230.27 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Research analysts predict that Daktronics will post 1.27 EPS for the current fiscal year.
Institutional Investors Weigh In On Daktronics
Large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Daktronics in the second quarter worth about $68,158,000. Bank of New York Mellon Corp bought a new position in Daktronics in the 2nd quarter worth approximately $17,992,000. Renaissance Technologies LLC increased its position in Daktronics by 13.1% in the 1st quarter. Renaissance Technologies LLC now owns 822,854 shares of the technology company’s stock worth $16,087,000 after buying an additional 95,393 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in shares of Daktronics by 161.2% during the first quarter. Hillsdale Investment Management Inc. now owns 392,089 shares of the technology company’s stock worth $7,665,000 after buying an additional 241,969 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Daktronics by 282.7% during the first quarter. Lazard Asset Management LLC now owns 130,771 shares of the technology company’s stock worth $2,557,000 after buying an additional 96,596 shares during the last quarter. Institutional investors 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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