Daktronics (NASDAQ:DAKT) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• Research analysts at Wall Street Zen upgraded Daktronics from a "buy" rating to a "strong-buy" rating, highlighting increased confidence in the company's prospects.
• Shares of Daktronics have seen a recent price rise of 5.3%, with the stock currently trading at $23.39 after fluctuating between a low of $10.24 and a high of $23.69 within the past year.
• The company reported earnings of $0.33 per share for the last quarter, exceeding analysts' expectations and indicating strong revenue growth.

Daktronics (NASDAQ:DAKT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Sunday.

Separately, Zacks Research raised shares of Daktronics from a "hold" rating to a "strong-buy" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy" and a consensus target price of $26.00.

Daktronics Trading Up 5.3%

NASDAQ:DAKT opened at $23.39 on Friday. Daktronics has a one year low of $10.24 and a one year high of $23.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.07 and a quick ratio of 1.60. The company has a market cap of $1.14 billion, a PE ratio of 34.97, a PEG ratio of 0.68 and a beta of 1.69. The firm has a 50-day moving average of $17.06 and a 200-day moving average of $14.82.

Daktronics (NASDAQ:DAKT - Get Free Report) last issued its quarterly earnings results on Wednesday, September 10th. The technology company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.09. The company had revenue of $218.97 million for the quarter, compared to the consensus estimate of $196.90 million. Daktronics had a net margin of 1.51% and a return on equity of 14.64%. As a group, equities research analysts expect that Daktronics will post 0.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Daktronics news, insider Sheila Mae Anderson sold 3,839 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $16.86, for a total value of $64,725.54. Following the completion of the transaction, the insider directly owned 39,495 shares in the company, valued at $665,885.70. This represents a 8.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.30% of the stock is owned by insiders.

Institutional Trading of Daktronics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its stake in Daktronics by 3.2% in the second quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company's stock worth $357,000 after purchasing an additional 728 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Daktronics by 1.6% in the first quarter. SummerHaven Investment Management LLC now owns 56,355 shares of the technology company's stock worth $686,000 after purchasing an additional 876 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Daktronics by 4.0% in the first quarter. Principal Financial Group Inc. now owns 23,311 shares of the technology company's stock worth $284,000 after purchasing an additional 898 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Daktronics by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 15,193 shares of the technology company's stock valued at $230,000 after acquiring an additional 1,253 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Daktronics by 6.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company's stock valued at $295,000 after acquiring an additional 1,476 shares in the last quarter. Hedge funds and other institutional investors own 61.69% of the company's stock.

About Daktronics

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.

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