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

Daktronics (NASDAQ:DAKT) 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.

Daktronics Price Performance

DAKT opened at $12.56 on Friday. The business’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 capitalization 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) 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 on 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 through this hyperlink. In related news, VP Matthew John Kurtenbach sold 2,000 shares of the business’s stock in a transaction on 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 through 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 stock was 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 stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DAKT. Russell Investments Group Ltd. grew its holdings in shares of Daktronics by 422.7% during the 4th quarter. Russell Investments Group Ltd. now owns 52,790 shares of the technology company’s stock worth $448,000 after purchasing an additional 42,690 shares during the period. Precision Wealth Strategies LLC acquired a new position in shares of Daktronics in the 4th quarter worth approximately $184,000. Victory Capital Management Inc. purchased a new position in Daktronics in the 4th quarter worth about $628,000. Dimensional Fund Advisors LP raised 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. acquired a new position in shares of Daktronics in the fourth quarter worth $4,069,000. 61.69% of the stock is owned by hedge funds and other institutional investors.

Daktronics Company Profile

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.