Daktronics (NASDAQ:DAKT) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Daktronics from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $31.
• Daktronics reported quarterly EPS of $0.40, beating estimates by $0.05, and revenue of $234.57 million, ahead of the $230.27 million consensus.
• The stock opened at $17.02, near its 52-week low of $16.97 and well below its 52-week high of $28.27; insiders have recently sold shares, while institutional investors own 61.69% of the company.

Daktronics (NASDAQ:DAKT - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

DAKT has been the subject of several other research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Daktronics in a research report on Tuesday. Craig Hallum restated a "buy" rating and issued a $33.00 price target on shares of Daktronics in a research note on Thursday, September 3rd. Zacks Research raised shares of Daktronics from a "strong sell" rating to a "hold" rating in a report on Monday, June 15th. Finally, Roth Capital lifted their price objective on shares of Daktronics from $26.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $31.00.

Daktronics Price Performance

Shares of NASDAQ:DAKT opened at $17.02 on Friday. The company has a market capitalization of $818.49 million, a P/E ratio of 17.37, a P/E/G ratio of 0.56 and a beta of 1.68. Daktronics has a 1-year low of $16.97 and a 1-year high of $28.27. The firm's 50 day simple moving average is $19.37 and its two-hundred day simple moving average is $19.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.17 and a quick ratio of 1.66.

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, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $234.57 million for 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 last year, the firm earned $0.33 EPS. Research analysts expect that Daktronics will post 1.24 EPS for the current fiscal year.

Insider Activity

In other Daktronics news, insider Sheila Anderson sold 3,636 shares of Daktronics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $20.01, for a total value of $72,756.36. Following the sale, the insider owned 48,371 shares of the company's stock, valued at $967,903.71. The trade was a 6.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Bradley T. Wiemann sold 4,000 shares of the company's 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 sale, the executive vice president directly owned 125,946 shares in the company, valued at $2,420,682.12. This trade represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.60% of the company's stock.

Institutional Investors Weigh In On Daktronics

Several large investors have recently bought and sold shares of the business. Cornerstone Planning Group LLC bought a new position in Daktronics during the first quarter valued at $26,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Daktronics by 22,566.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company's stock worth $27,000 after buying an additional 1,354 shares during the last quarter. USA Financial Formulas increased its holdings in shares of Daktronics by 3,057.8% in the 1st quarter. USA Financial Formulas now owns 1,421 shares of the technology company's stock worth $28,000 after buying an additional 1,376 shares during the last quarter. State of Wyoming purchased a new stake in shares of Daktronics during the 2nd quarter valued at about $33,000. Finally, Clearstead Advisors LLC purchased a new stake in shares of Daktronics during the 4th quarter valued at about $57,000. Institutional investors own 61.69% of the company's stock.

Daktronics Company Profile

Daktronics, Inc designs, manufactures and sells electronic display and control systems. Its products include large-format LED video displays, digital scoreboards, message centers, digital signage, display controllers and related audio systems.

The company serves sports and entertainment venues, schools and universities, commercial and retail organizations, transportation facilities, government institutions and other customers that use visual communications. Daktronics also provides installation, maintenance, content management and other support services for its display systems.

Founded in 1968 and headquartered in Brookings, South Dakota, Daktronics serves customers in the United States and international markets.

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