Daktronics (NASDAQ:DAKT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Daktronics from a "buy" to a "strong-buy" rating, indicating increased confidence in the company's stock potential.
• Zacks Research also upgraded Daktronics to a "strong-buy" rating, contributing to an overall rating of "Strong Buy" with a target price of $26.00.
• In the latest quarter, Daktronics reported an EPS of $0.33, surpassing expectations and achieving a revenue of $218.97 million, which is significantly above analyst estimates.

Wall Street Zen upgraded shares of Daktronics (NASDAQ:DAKT - Free Report) from a buy rating to a strong-buy rating in a research note published on Sunday morning.

Separately, Zacks Research raised Daktronics from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Strong Buy" and an average price target of $26.00.

Daktronics Stock Performance

DAKT stock traded up $0.01 during midday trading on Friday, hitting $22.74. The company's stock had a trading volume of 734,533 shares, compared to its average volume of 512,145. The stock's 50-day moving average price is $17.60 and its 200 day moving average price is $15.05. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.19. Daktronics has a 1 year low of $10.24 and a 1 year high of $24.38. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 0.70 and a beta of 1.69.

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

Insider Activity

In related news, VP Carla S. Gatzke sold 9,944 shares of the business's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $23.09, for a total transaction of $229,606.96. Following the sale, the vice president directly owned 721,036 shares in the company, valued at approximately $16,648,721.24. The trade was a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Patrick Friel sold 13,479 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $23.58, for a total value of $317,834.82. Following the sale, the director owned 74,094 shares in the company, valued at approximately $1,747,136.52. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,262 shares of company stock valued at $612,167 in the last 90 days. Insiders own 5.30% of the company's stock.

Institutional Trading of Daktronics

A number of hedge funds and other institutional investors have recently made changes to their positions in DAKT. Northern Trust Corp raised its stake in shares of Daktronics by 14.4% during the 4th quarter. Northern Trust Corp now owns 409,577 shares of the technology company's stock valued at $6,905,000 after purchasing an additional 51,643 shares during the period. Bank of America Corp DE raised its stake in shares of Daktronics by 21.4% during the 4th quarter. Bank of America Corp DE now owns 52,722 shares of the technology company's stock valued at $889,000 after purchasing an additional 9,301 shares during the period. Deutsche Bank AG raised its stake in shares of Daktronics by 55.8% during the 4th quarter. Deutsche Bank AG now owns 30,648 shares of the technology company's stock valued at $517,000 after purchasing an additional 10,977 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Daktronics by 11.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,734 shares of the technology company's stock valued at $383,000 after purchasing an additional 2,407 shares during the period. Finally, ProShare Advisors LLC bought a new stake in shares of Daktronics during the 4th quarter valued at $190,000. 61.69% of the stock is currently owned by institutional investors.

Daktronics Company Profile

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.