Daktronics (NASDAQ:DAKT) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Daktronics from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. TheStreet upgraded shares of Daktronics from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $11.83.

Shares of Daktronics (NASDAQ DAKT) traded down $0.09 during trading on Wednesday, reaching $9.04. 122,630 shares of the company’s stock traded hands, compared to its average volume of 113,065. Daktronics has a twelve month low of $7.84 and a twelve month high of $11.12. The company has a quick ratio of 1.53, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market cap of $402.04, a PE ratio of 36.16 and a beta of 1.22.

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

In other news, insider Carla S. Gatzke sold 2,996 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $10.27, for a total value of $30,768.92. Following the completion of the transaction, the insider now directly owns 435,063 shares in the company, valued at approximately $4,468,097.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Mulligan sold 37,307 shares of the business’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 transaction, the director now 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 insiders.

A number of hedge funds have recently added to or reduced their stakes in DAKT. Capital Investment Advisory Services LLC acquired a new position in Daktronics during the 3rd quarter worth approximately $107,000. UBS Asset Management Americas Inc. increased its position in Daktronics by 0.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 12,084 shares of the technology company’s stock worth $116,000 after purchasing an additional 64 shares in the last quarter. Stevens Capital Management LP acquired a new position in Daktronics during the 3rd quarter worth approximately $120,000. Arrowstreet Capital Limited Partnership acquired a new position in Daktronics during the 2nd quarter worth approximately $123,000. Finally, BNP Paribas Arbitrage SA increased its position in Daktronics by 44.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,417 shares of the technology company’s stock worth $129,000 after purchasing an additional 4,130 shares in the last quarter. Institutional investors and hedge funds own 53.86% of the company’s stock.

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About Daktronics

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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