Daktronics (NASDAQ:DAKT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

A number of other analysts have also recently issued reports on the company. BidaskClub raised Daktronics from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. TheStreet raised Daktronics from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $11.83.

Daktronics (NASDAQ DAKT) traded down $0.01 during trading hours on Tuesday, hitting $9.32. The stock had a trading volume of 135,337 shares, compared to its average volume of 140,122. The firm has a market cap of $416.72, a PE ratio of 37.48 and a beta of 1.22. Daktronics has a twelve month low of $7.84 and a twelve month high of $11.12. The company has a current ratio of 2.04, a quick ratio of 1.53 and a debt-to-equity ratio of 0.07.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings data on Tuesday, November 21st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01). The business had revenue of $169.30 million for the quarter, compared to analyst estimates of $172.55 million. Daktronics had a return on equity of 5.56% and a net margin of 1.89%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 earnings per share. research analysts forecast that Daktronics will post 0.36 EPS for the current fiscal year.

In other news, insider Carla S. Gatzke sold 2,996 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $10.27, for a total transaction of $30,768.92. Following the completion of the transaction, the insider now directly owns 435,063 shares of the company’s stock, valued at approximately $4,468,097.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Mulligan sold 37,307 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $13.20, for a total value of $492,452.40. Following the transaction, the director now directly owns 67,182 shares of the company’s stock, valued at $886,802.40. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Systematic Financial Management LP increased its stake in Daktronics by 31.4% in the 2nd quarter. Systematic Financial Management LP now owns 156,250 shares of the technology company’s stock valued at $1,505,000 after purchasing an additional 37,300 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Daktronics by 5.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 148,077 shares of the technology company’s stock valued at $1,400,000 after buying an additional 8,208 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Daktronics by 30.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 275,096 shares of the technology company’s stock valued at $2,649,000 after buying an additional 64,186 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in Daktronics by 13.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 138,455 shares of the technology company’s stock valued at $1,333,000 after buying an additional 16,941 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in Daktronics by 31.9% during the 2nd quarter. Teachers Advisors LLC now owns 88,629 shares of the technology company’s stock valued at $853,000 after buying an additional 21,427 shares during the last quarter. 53.86% of the stock is owned by hedge funds and other institutional investors.

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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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