Daktronics, Inc. (DAKT) Stock Rating Lowered by Zacks Investment Research
Daktronics, Inc. (NASDAQ:DAKT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Daktronics Inc. has strong leadership positions in, and is one of the world’s largest suppliers of, electronic scoreboards, computer-programmable displays, and large screen video displays and control systems. The company excels in the control of large display systems, including those that require integration of multiple complex displays showing real-time information, graphics, animation and video. Daktronics designs, manufactures, markets and services display systems for customers around the world in sport, business and transportation applications. “
Several other equities analysts have also recently issued reports on DAKT. TheStreet raised shares of Daktronics from a “c+” rating to a “b-” rating in a research note on Wednesday, September 27th. BidaskClub cut shares of Daktronics from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Daktronics presently has an average rating of “Buy” and a consensus target price of $11.83.
Shares of Daktronics (NASDAQ DAKT) traded up 0.49% during mid-day trading on Tuesday, hitting $10.29. 97,138 shares of the company’s stock traded hands. Daktronics has a 1-year low of $7.84 and a 1-year high of $11.12. The stock has a 50 day moving average price of $10.28 and a 200-day moving average price of $9.70. The stock has a market cap of $455.71 million, a P/E ratio of 35.36 and a beta of 1.28.
Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Tuesday, August 22nd. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.06. The company had revenue of $172.70 million for the quarter, compared to analysts’ expectations of $165.00 million. Daktronics had a net margin of 2.20% and a return on equity of 6.53%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. Equities research analysts anticipate that Daktronics will post $0.40 EPS for the current fiscal year.
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In related news, Director John L. Mulligan sold 37,307 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $13.20, for a total transaction of $492,452.40. Following the completion of the sale, the director now directly owns 67,182 shares in the company, valued at $886,802.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Carla S. Gatzke sold 2,988 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $10.00, for a total transaction of $29,880.00. Following the sale, the insider now owns 436,130 shares of the company’s stock, valued at $4,361,300. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,291 shares of company stock valued at $553,101. Corporate insiders own 8.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Daktronics by 4.6% during the second quarter. The Manufacturers Life Insurance Company now owns 31,309 shares of the technology company’s stock worth $301,000 after purchasing an additional 1,368 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Daktronics during the second quarter worth approximately $123,000. State Street Corp boosted its holdings in shares of Daktronics by 5.0% during the second quarter. State Street Corp now owns 898,729 shares of the technology company’s stock worth $8,658,000 after purchasing an additional 42,740 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Daktronics by 8.0% during the second quarter. HighTower Advisors LLC now owns 43,659 shares of the technology company’s stock worth $422,000 after purchasing an additional 3,250 shares during the period. Finally, PDT Partners LLC acquired a new stake in shares of Daktronics during the second quarter worth approximately $488,000. Institutional investors and hedge funds own 51.86% of the company’s stock.
Daktronics Company Profile
Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.
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