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

Key Points

• Daktronics was upgraded by Wall Street Zen from “buy” to “strong-buy.” However, Zacks Research recently downgraded the stock to a “strong sell,” leaving the overall analyst consensus at “Reduce.”
• The stock was up 2.6% and opened at $20.53. Key valuation and trading metrics include a market cap of $991.6 million, a P/E ratio of 37.33, and a beta of 1.67.
• In its last quarterly report, Daktronics missed earnings expectations with EPS of $0.09 versus the $0.18 consensus, though revenue came in slightly above forecasts at $181.87 million.

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

Separately, Zacks Research downgraded shares of Daktronics from a "hold" rating to a "strong sell" rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce".

Daktronics Trading Up 2.6%

DAKT opened at $20.53 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.68 and a current ratio of 2.22. The business's 50 day moving average price is $20.72 and its 200 day moving average price is $20.81. Daktronics has a one year low of $13.05 and a one year high of $28.27. The stock has a market capitalization of $991.60 million, a PE ratio of 37.33, a P/E/G ratio of 0.57 and a beta of 1.67.

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

Institutional Investors Weigh In On Daktronics

Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Daktronics by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company's stock valued at $295,000 after buying an additional 1,476 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Daktronics by 2.1% during the first quarter. Empowered Funds LLC now owns 242,535 shares of the technology company's stock valued at $2,954,000 after acquiring an additional 4,926 shares during the last quarter. Rhumbline Advisers increased its position in Daktronics by 31.4% during the 2nd quarter. Rhumbline Advisers now owns 76,152 shares of the technology company's stock worth $1,151,000 after purchasing an additional 18,202 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 purchasing an additional 2,045 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Daktronics by 399.2% in the second quarter. Invesco Ltd. now owns 510,243 shares of the technology company's stock valued at $7,715,000 after buying an additional 408,037 shares during the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Company Profile

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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