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

Key Points

• Daktronics was downgraded by Wall Street Zen from "strong-buy" to "buy" and separately by Zacks from "strong-buy" to "hold," leaving the consensus rating at Hold.
• Q4 earnings missed—Daktronics reported $0.09 EPS versus $0.18 expected while revenue was roughly in line at $181.9M; the stock trades near $19.70 with a market cap of about $952M and a P/E of 35.8 (12‑month range $12.96–$28.27).

Daktronics (NASDAQ:DAKT - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Separately, Zacks Research downgraded Daktronics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Daktronics Stock Up 0.2%

Shares of NASDAQ:DAKT opened at $19.70 on Friday. The business has a 50-day moving average price of $21.17 and a 200 day moving average price of $20.79. The company has a current ratio of 2.22, a quick ratio of 1.68 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $951.51 million, a price-to-earnings ratio of 35.82, a PEG ratio of 0.70 and a beta of 1.67. Daktronics has a 12-month low of $12.96 and a 12-month high of $28.27.

Daktronics (NASDAQ:DAKT - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.09). The business had revenue of $181.87 million for the quarter, compared to analyst estimates of $181.00 million. Daktronics had a return on equity of 16.55% and a net margin of 3.43%. Sell-side analysts expect that Daktronics will post 0.94 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in Daktronics during the 3rd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in Daktronics by 22,566.7% during 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 in the last quarter. State of Alaska Department of Revenue acquired a new stake in Daktronics during the 3rd quarter worth approximately $43,000. Clearstead Advisors LLC acquired a new stake in Daktronics during the 4th quarter worth approximately $57,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Daktronics by 204.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company's stock worth $46,000 after buying an additional 2,045 shares in the last quarter. Institutional investors and hedge funds 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.

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