Daktronics (NASDAQ:DAKT) Stock Rating Lowered by Wall Street Zen

Daktronics (NASDAQ:DAKT) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on DAKT. Weiss Ratings upgraded Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. Roth Mkm lifted their price target on Daktronics from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Zacks Research raised Daktronics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.00.

Daktronics Stock Performance

Shares of NASDAQ:DAKT opened at $19.91 on Friday. The company has a 50 day moving average of $19.94 and a 200-day moving average of $21.10. The firm has a market cap of $961.25 million, a P/E ratio of 21.88, a P/E/G ratio of 0.66 and a beta of 1.67. Daktronics has a twelve month low of $15.59 and a twelve month high of $28.27. The company has a current ratio of 2.31, a quick ratio of 1.74 and a debt-to-equity ratio of 0.18.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data on Wednesday, June 24th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. Daktronics had a net margin of 5.41% and a return on equity of 17.62%. The business had revenue of $208.61 million during the quarter, compared to analysts’ expectations of $205.27 million. During the same period last year, the firm posted ($0.19) earnings per share. As a group, analysts anticipate that Daktronics will post 1.21 earnings per share for the current fiscal year.

Insider Activity at Daktronics

In related news, insider Sheila Mae Anderson sold 3,636 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $20.01, for a total value of $72,756.36. Following the sale, the insider directly owned 48,371 shares in the company, valued at $967,903.71. The trade was a 6.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of Daktronics in the third quarter valued at $25,000. Cornerstone Planning Group LLC bought a new stake in shares of Daktronics during the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Daktronics by 22,566.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,354 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Daktronics by 204.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock worth $46,000 after acquiring an additional 2,045 shares during the last quarter. Finally, Clearstead Advisors LLC acquired a new position in shares of Daktronics in the 4th quarter worth $57,000. Institutional investors and hedge funds own 61.69% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.