Daktronics (NASDAQ:DAKT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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 equities research analysts have also commented on DAKT. TheStreet upgraded shares of Daktronics from a “c+” rating to a “b-” rating in a report on Wednesday, September 27th. BidaskClub lowered shares of Daktronics from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $11.83.

Daktronics (NASDAQ:DAKT) traded down $0.14 during mid-day trading on Thursday, reaching $9.12. 79,575 shares of the company’s stock were exchanged, compared to its average volume of 139,168. 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 has a fifty-two week low of $7.84 and a fifty-two week high of $11.12. The stock has a market cap of $404.71, a PE ratio of 36.40 and a beta of 1.22.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Tuesday, November 21st. The technology company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.01). The business had revenue of $169.30 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $0.20 earnings per share. sell-side analysts forecast that Daktronics will post 0.36 earnings per share for the current fiscal year.

In other Daktronics news, insider Carla S. Gatzke sold 2,996 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $10.27, for a total transaction of $30,768.92. Following the transaction, the insider now owns 435,063 shares in the company, valued at approximately $4,468,097.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Mulligan sold 37,307 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $13.20, for a total transaction of $492,452.40. Following the transaction, the director now owns 67,182 shares in the company, valued at approximately $886,802.40. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.

Large investors have recently modified their holdings of the company. Bernzott Capital Advisors raised its stake in Daktronics by 42.1% during the 4th quarter. Bernzott Capital Advisors now owns 1,645,997 shares of the technology company’s stock worth $14,353,000 after acquiring an additional 487,709 shares during the period. First Personal Financial Services raised its stake in Daktronics by 18.0% during the 4th quarter. First Personal Financial Services now owns 85,247 shares of the technology company’s stock worth $743,000 after acquiring an additional 12,986 shares during the period. Principal Financial Group Inc. raised its stake in Daktronics by 5.0% during the 4th quarter. Principal Financial Group Inc. now owns 254,600 shares of the technology company’s stock worth $2,220,000 after acquiring an additional 12,048 shares during the period. Goldman Sachs Group Inc. bought a new stake in Daktronics during the 1st quarter worth approximately $436,000. Finally, Dimensional Fund Advisors LP raised its stake in Daktronics by 6.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,647,440 shares of the technology company’s stock worth $14,366,000 after acquiring an additional 92,769 shares during the period. Hedge funds and other institutional investors own 53.63% of the company’s stock.

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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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