Daktronics (NASDAQ:DAKT) Cut to Strong Sell at Zacks Research

Daktronics (NASDAQ:DAKT) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Separately, Wall Street Zen cut shares of Daktronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

Daktronics Stock Up 2.3%

Shares of NASDAQ:DAKT opened at $19.71 on Monday. The company’s fifty day moving average is $21.01 and its 200-day moving average is $20.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.68 and a current ratio of 2.22. Daktronics has a 52 week low of $13.05 and a 52 week high of $28.27. The company has a market capitalization of $951.99 million, a PE ratio of 35.84, a P/E/G ratio of 0.53 and a beta of 1.67.

Daktronics (NASDAQ:DAKT) last announced its earnings results on Wednesday, March 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.09). The firm had revenue of $181.87 million for the quarter, compared to analyst estimates of $181.00 million. Daktronics had a return on equity of 16.55% and a net margin of 3.43%. Equities research analysts predict that Daktronics will post 0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. grew its holdings in Daktronics by 161.2% during the 1st quarter. Hillsdale Investment Management Inc. now owns 392,089 shares of the technology company’s stock worth $7,665,000 after acquiring an additional 241,969 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Daktronics by 11.7% in the first quarter. Inspire Investing LLC now owns 26,409 shares of the technology company’s stock worth $516,000 after acquiring an additional 2,775 shares during the last quarter. North Star Investment Management Corp. acquired a new position in shares of Daktronics during the first quarter worth approximately $313,000. OP Asset Management Ltd acquired a new position in shares of Daktronics during the first quarter worth approximately $2,133,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Daktronics by 22,566.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,354 shares during the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

About Daktronics

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.