Daktronics (NASDAQ:DAKT) Stock Rating Lowered by StockNews.com

Daktronics (NASDAQ:DAKTGet Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Separately, TheStreet lowered Daktronics from a “b-” rating to a “c+” rating in a research note on Friday, January 5th.

Check Out Our Latest Report on Daktronics

Daktronics Stock Performance

Shares of DAKT stock opened at $8.78 on Thursday. Daktronics has a 12-month low of $3.90 and a 12-month high of $12.42. The firm has a market capitalization of $405.46 million, a price-to-earnings ratio of 8.52 and a beta of 1.05. The business has a 50 day simple moving average of $8.00 and a 200 day simple moving average of $8.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 1.29.

Daktronics (NASDAQ:DAKTGet Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $170.30 million for the quarter. Daktronics had a net margin of 6.59% and a return on equity of 30.57%.

Hedge Funds Weigh In On Daktronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its position in shares of Daktronics by 300.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 8,731 shares of the technology company’s stock valued at $25,000 after acquiring an additional 6,550 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Daktronics by 3,779.5% during the 1st quarter. Bank of America Corp DE now owns 4,733 shares of the technology company’s stock valued at $27,000 after acquiring an additional 4,611 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Daktronics by 1,083.4% during the 2nd quarter. Royal Bank of Canada now owns 4,982 shares of the technology company’s stock valued at $32,000 after acquiring an additional 4,561 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Daktronics during the 3rd quarter valued at $40,000. Finally, Jane Street Group LLC acquired a new stake in shares of Daktronics during the 4th quarter valued at $41,000. 51.96% of the stock is owned by institutional investors.

About Daktronics

(Get Free Report)

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.

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