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 research report issued on Tuesday, Zacks reports.
Other research analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Daktronics in a research report on Tuesday, September 22nd. Craig Hallum reissued a "buy" rating and set a $33.00 target price on shares of Daktronics in a research report on Thursday, September 3rd. Finally, Wall Street Zen upgraded shares of Daktronics from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.
Get Our Latest Stock Analysis on Daktronics
Daktronics Price Performance
DAKT opened at $20.32 on Tuesday. The business's 50-day moving average is $18.60 and its two-hundred day moving average is $20.42. Daktronics has a 1 year low of $16.77 and a 1 year high of $28.27. 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 firm 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.
Daktronics (NASDAQ:DAKT - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The technology company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. The business had revenue of $234.57 million during the quarter, compared to the consensus estimate of $230.27 million. Daktronics had a net margin of 5.66% and a return on equity of 18.05%. During the same period in the previous year, the company posted $0.33 earnings per share. Research analysts anticipate that Daktronics will post 1.27 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Daktronics
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Daktronics in the 2nd quarter worth approximately $68,158,000. Bank of New York Mellon Corp purchased a new stake in Daktronics during the 2nd quarter worth approximately $17,992,000. Renaissance Technologies LLC grew its position in Daktronics by 13.1% during the 1st quarter. Renaissance Technologies LLC now owns 822,854 shares of the technology company's stock worth $16,087,000 after purchasing an additional 95,393 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in Daktronics by 161.2% during the 1st quarter. Hillsdale Investment Management Inc. now owns 392,089 shares of the technology company's stock worth $7,665,000 after purchasing an additional 241,969 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in Daktronics by 282.7% during the 1st 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
(
Get Free Report)
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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