Daktronics (NASDAQ:DAKT) Raised to Buy at StockNews.com

Daktronics (NASDAQ:DAKT) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

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

Daktronics Price Performance

Shares of NASDAQ DAKT traded down $0.01 during mid-day trading on Monday, hitting $13.51. 386,061 shares of the stock traded hands, compared to its average volume of 515,150. 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 twelve month low of $7.20 and a twelve month high of $15.97. The company has a market cap of $625.46 million, a PE ratio of 22.15, a price-to-earnings-growth ratio of 0.47 and a beta of 1.14. The firm has a 50 day simple moving average of $13.50 and a two-hundred day simple moving average of $12.31.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $216.84 million. As a group, equities research analysts forecast that Daktronics will post 0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Bradley T. Wiemann sold 25,000 shares of Daktronics stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the transaction, the executive vice president now directly owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Bradley T. Wiemann sold 25,000 shares of Daktronics stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the transaction, the executive vice president now directly owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Matthew John Kurtenbach sold 15,400 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total value of $204,512.00. Following the sale, the vice president now owns 2,500 shares of the company’s stock, valued at approximately $33,200. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,872 shares of company stock valued at $743,298. 8.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Daktronics

Large investors have recently added to or reduced their stakes in the business. Duquesne Family Office LLC raised its stake in shares of Daktronics by 20.3% in the second quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock worth $34,786,000 after purchasing an additional 420,161 shares during the last quarter. Vanguard Group Inc. raised its position in Daktronics by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,338,484 shares of the technology company’s stock valued at $23,291,000 after buying an additional 41,076 shares during the last quarter. Progeny 3 Inc. lifted its stake in Daktronics by 140.0% during the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after acquiring an additional 1,047,156 shares in the last quarter. First Bank & Trust boosted its holdings in Daktronics by 29.5% during the 1st quarter. First Bank & Trust now owns 997,216 shares of the technology company’s stock worth $9,932,000 after acquiring an additional 227,108 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Daktronics by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock worth $12,134,000 after acquiring an additional 187,486 shares in the last quarter. Institutional investors own 61.69% of the company’s stock.

Daktronics Company Profile

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.