StockNews.com Downgrades Daktronics (NASDAQ:DAKT) to Hold

Daktronics (NASDAQ:DAKT – Get a Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Separately, Singular Research raised shares of Daktronics to a “strong-buy” rating in a research note on Monday, September 9th.

Read our latest research report on DAKT

Daktronics Price Performance

DAKT opened at $12.56 on Friday. The company’s 50-day moving average is $14.16, and its two-hundred-day moving average is $11.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17, and a quick ratio of 1.48. Daktronics has a 1 year low of $7.20 and a 1 year high of $15.97. The firm has a market cap of $581.48 million, a PE ratio of 20.59, a price-to-earnings-growth ratio of 0.45 and a beta of 1.14.

Daktronics (NASDAQ:DAKT – Get Free Report ) last posted its quarterly earnings results on Wednesday, June 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The business had revenue of $215.88 million during the quarter, compared to analysts’ expectations of $179.28 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. research analysts anticipate that Daktronics will post 0.89 earnings per share for the current fiscal year.

Insiders place their bets

In other Daktronics news, VP Matthew John Kurtenbach sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $14.96, for a total value of $29,920.00. Following the completion of the transaction, the vice president now owns 208,906 shares in the company, valued at $3,125,233.76. The transaction was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. In related news, VP Matthew John Kurtenbach sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $14.96, for a total value of $29,920.00. Following the completion of the sale, the vice president now directly owns 208,906 shares of the company’s stock, valued at $3,125,233.76. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. Also, EVP Bradley T. Wiemann sold 1,839 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $14.66, for a total transaction of $26,959.74. Following the transaction, the executive vice president now owns 108,743 shares in the company, valued at $1,594,172.38. The disclosure for this sale can be found here. Insiders have sold 48,811 shares of company stock worth $692,532 over the last ninety days. Corporate insiders own 8.30% of the company’s shares.

Institutional inputs and outputs

A number of hedge funds have recently added to or reduced their stakes in DAKT. Russell Investments Group Ltd. raised its holdings in shares of Daktronics by 422.7% during the fourth quarter. Russell Investments Group Ltd. now owns 52,790 shares of the technology company’s stock worth $448,000 after acquiring an additional 42,690 shares during the period. Precision Wealth Strategies LLC purchased a new position in shares of Daktronics in the 4th quarter valued at approximately $184,000. Victory Capital Management Inc. purchased a new position in Daktronics in the 4th quarter valued at about $628,000. Dimensional Fund Advisors LP increased its position in Daktronics by 14.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,451,404 shares of the technology company’s stock valued at $20,788,000 after buying an additional 305,597 shares during the period. Finally, Anthracite Investment Company Inc. purchased a new position in shares of Daktronics in the fourth quarter valued at $4,069,000. 61.69% of the shares are held by hedge funds and other institutional investors.

Daktronics Company Profile

(Get a free report)

Daktronics, Inc designs, manufactures and markets electronic display systems and related products for sports, commercial and transportation applications in the United States and internationally. It operates through the commercial, live events, high school park and recreation, transportation and international segments.

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