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

StockNews.com upgraded shares of Daktronics (NASDAQ:DAKT) from a hold rating to a buy rating in a research note released on Monday morning.

Separately, Singular Research raised Daktronics to a strong-buy rating in a research report on Monday, September 9th.

Daktronics Stock Performance

Shares of DAKT stock opened at $13.51 on Monday. The stock has a fifty day moving average price of $13.50 and a 200 day moving average price of $12.31. The stock has a market cap of $625.46 million, a PE ratio of 22.15, a P/E/G ratio of 0.47 and a beta of 1.14. Daktronics has a 1 year low of $7.20 and a 1 year high of $15.97. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. The company had revenue of $226.09 million during the quarter, compared to analysts’ expectations of $216.84 million. Sell-side analysts forecast that Daktronics will post 0.89 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Matthew John Kurtenbach sold 2,000 shares of Daktronics stock in a transaction on Wednesday, July 31st. The stock was 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 owns 208,906 shares of the company’s stock, valued at $3,125,233.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Daktronics news, EVP Bradley T. Wiemann sold 25,000 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the sale, the executive vice president now owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the vice president now directly owns 208,906 shares of the company’s stock, valued at approximately $3,125,233.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,872 shares of company stock valued at $608,838 over the last quarter. Company insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Daktronics

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in Daktronics by 92.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,108 shares during the period. CWM LLC grew its stake in shares of Daktronics by 31.4% in the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock valued at $51,000 after buying an additional 872 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Daktronics by 150.0% in the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock valued at $56,000 after buying an additional 2,400 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Daktronics in the first quarter valued at about $105,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Daktronics in the first quarter valued at about $109,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

About Daktronics

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays 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.