BidaskClub upgraded shares of Daktronics (NASDAQ:DAKT) from a hold rating to a buy rating in a research note released on Tuesday morning.
Separately, TheStreet upgraded Daktronics from a c+ rating to a b- rating in a research note on Wednesday, December 12th.
DAKT stock opened at $7.87 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 1.99 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $353.05 million, a price-to-earnings ratio of 49.50 and a beta of 0.98. Daktronics has a twelve month low of $7.14 and a twelve month high of $10.11.
Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, November 21st. The technology company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The firm had revenue of $172.70 million during the quarter, compared to the consensus estimate of $170.01 million. Daktronics had a return on equity of 3.71% and a net margin of 0.53%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share.
In other news, CFO Sheila Mae Anderson sold 3,500 shares of Daktronics stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $8.94, for a total transaction of $31,290.00. Following the completion of the transaction, the chief financial officer now directly owns 17,971 shares in the company, valued at approximately $160,660.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reece A. Kurtenbach sold 10,500 shares of Daktronics stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $8.66, for a total value of $90,930.00. Following the transaction, the chairman now owns 295,607 shares of the company’s stock, valued at $2,559,956.62. The disclosure for this sale can be found here. Insiders have sold a total of 19,411 shares of company stock valued at $170,486 over the last quarter. 8.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in shares of Daktronics by 19.6% during the 2nd quarter. Renaissance Technologies LLC now owns 708,000 shares of the technology company’s stock worth $6,025,000 after acquiring an additional 116,200 shares during the period. BlackRock Inc. boosted its stake in shares of Daktronics by 7.0% during the 3rd quarter. BlackRock Inc. now owns 5,586,187 shares of the technology company’s stock worth $43,795,000 after acquiring an additional 365,243 shares during the period. Wells Fargo & Company MN lifted its holdings in Daktronics by 24.2% during the 3rd quarter. Wells Fargo & Company MN now owns 79,573 shares of the technology company’s stock worth $623,000 after purchasing an additional 15,511 shares during the last quarter. First Personal Financial Services lifted its holdings in Daktronics by 37.3% during the 3rd quarter. First Personal Financial Services now owns 166,537 shares of the technology company’s stock worth $1,306,000 after purchasing an additional 45,285 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Daktronics by 83.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 66,601 shares of the technology company’s stock worth $522,000 after purchasing an additional 30,301 shares during the last quarter. Institutional investors own 58.94% of the company’s stock.
Daktronics, Inc designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.
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