Daktronics (NASDAQ:DAKT) Rating Lowered to “Hold” at Zacks Research

Daktronics (NASDAQ:DAKT) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

Several other equities analysts also recently weighed in on DAKT. Craig Hallum reiterated a “buy” rating and issued a $33.00 price target on shares of Daktronics in a report on Thursday, September 3rd. Wall Street Zen upgraded shares of Daktronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Daktronics in a research note on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Daktronics presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Daktronics Stock Performance

Shares of DAKT opened at $20.32 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.17. The stock has a 50-day moving average of $18.60 and a two-hundred day moving average of $20.42. The stock has a market cap of $977.19 million, a P/E ratio of 20.73, a P/E/G ratio of 0.62 and a beta of 1.72. Daktronics has a one year low of $16.77 and a one year high of $28.27.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, September 2nd. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Daktronics had a return on equity of 18.05% and a net margin of 5.66%. The business had revenue of $234.57 million for the quarter, compared to analyst estimates of $230.27 million. During the same period in the prior year, the company earned $0.33 earnings per share. As a group, research analysts predict that Daktronics will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its position in Daktronics by 13.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,712 shares of the technology company’s stock worth $151,000 after purchasing an additional 898 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of Daktronics by 949.3% during the 3rd quarter. Sterling Capital Management LLC now owns 1,469 shares of the technology company’s stock worth $26,000 after purchasing an additional 1,329 shares during the period. Cornerstone Planning Group LLC acquired a new stake in shares of Daktronics during the 1st quarter worth approximately $26,000. USA Financial Formulas increased its holdings in shares of Daktronics by 3,057.8% during the 1st quarter. USA Financial Formulas now owns 1,421 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,376 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Daktronics during the 2nd quarter valued at approximately $33,000. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Company Profile

Daktronics, Inc designs and manufactures electronic display and audiovisual communication systems. Its products include large-format LED video displays, digital scoreboards, message centers, programmable display systems, control systems and related software. The company also provides installation, maintenance, content management and other support services for its display solutions.

Its products are used in sports venues, schools and universities, commercial properties, retail locations, transportation facilities and public spaces.