Daktronics (NASDAQ:DAKT) Upgraded to “Strong-Buy” at Singular Research

Singular Research upgraded shares of Daktronics (NASDAQ:DAKT) to a strong-buy rating in a report issued on Monday, Zacks.com reports.

Separately, StockNews.com upgraded Daktronics from a hold rating to a buy rating in a research report on Thursday, September 5th.

Daktronics Price Performance

DAKT stock opened at $12.05 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17. The company has a market capitalization of $557.87 million, a PE ratio of 19.75, a price-to-earnings-growth ratio of 0.35 and a beta of 1.14. The company’s fifty day moving average price is $14.22 and its 200-day moving average price is $11.70. Daktronics has a one year low of $7.20 and a one year high of $15.97.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings data on Wednesday, June 26th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.13. The firm had revenue of $215.88 million during the quarter, compared to analyst estimates of $179.28 million. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. On average, equities analysts anticipate that Daktronics will post 1.13 EPS for the current fiscal year.

Insider Activity

In other news, CEO Reece A. Kurtenbach sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $13.87, for a total value of $208,050.00. Following the completion of the sale, the chief executive officer now directly owns 457,963 shares of the company’s stock, valued at approximately $6,351,946.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Bradley T. Wiemann sold 7,500 shares of Daktronics stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $13.60, for a total transaction of $102,000.00. Following the completion of the sale, the executive vice president now owns 132,582 shares of the company’s stock, valued at $1,803,115.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reece A. Kurtenbach sold 15,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.87, for a total value of $208,050.00. Following the completion of the sale, the chief executive officer now owns 457,963 shares of the company’s stock, valued at $6,351,946.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,811 shares of company stock worth $692,532. 8.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Daktronics

A number of large investors have recently added to or reduced their stakes in DAKT. Breach Inlet Capital Management LLC purchased a new position in shares of Daktronics in the 4th quarter worth approximately $11,508,000. Progeny 3 Inc. grew its holdings in Daktronics by 140.0% in the second quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock worth $25,039,000 after purchasing an additional 1,047,156 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Daktronics in the first quarter worth $7,482,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of Daktronics during the fourth quarter worth $4,240,000. Finally, Anthracite Investment Company Inc. purchased a new stake in shares of Daktronics during the 4th quarter valued at $4,069,000. 61.69% of the stock is currently owned by institutional investors.

About Daktronics

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.