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

StockNews.com downgraded shares of Daktronics (NASDAQ:DAKT) from a buy rating to a hold rating in a research note issued to investors on Friday.

Separately, Singular Research upgraded shares of Daktronics to a strong-buy rating in a research note on Monday, September 9th.

Daktronics Stock Up 0.8 %

Shares of NASDAQ:DAKT opened at $12.66 on Friday. Daktronics has a 1 year low of $7.20 and a 1 year high of $15.97. The firm’s 50-day moving average is $14.14 and its two-hundred day moving average is $11.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48. The firm has a market capitalization of $586.11 million, a PE ratio of 20.75, a price-to-earnings-growth ratio of 0.45 and a beta of 1.14.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, June 26th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.13. The company had revenue of $215.88 million for the quarter, compared to the consensus estimate of $179.28 million. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. Analysts predict that Daktronics will post 0.89 EPS for the current year.

Insider Buying and Selling at Daktronics

In other news, EVP Bradley T. Wiemann sold 1,839 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $14.66, for a total transaction of $26,959.74. Following the transaction, the executive vice president now directly owns 108,743 shares in the company, valued at $1,594,172.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Daktronics news, VP Matthew John Kurtenbach sold 8,874 shares of Daktronics stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $13.90, for a total value of $123,348.60. Following the transaction, the vice president now directly owns 208,906 shares in the company, valued at approximately $2,903,793.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bradley T. Wiemann sold 1,839 shares of the company’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 value of $26,959.74. Following the sale, the executive vice president now owns 108,743 shares of the company’s stock, valued at approximately $1,594,172.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,811 shares of company stock worth $692,532. 8.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Daktronics

A number of large investors have recently bought and sold shares of the company. Breach Inlet Capital Management LLC acquired a new position in shares of Daktronics during the fourth quarter worth about $11,508,000. Progeny 3 Inc. raised its stake in shares of Daktronics by 140.0% during the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock worth $25,039,000 after buying an additional 1,047,156 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Daktronics in the 1st quarter valued at approximately $7,482,000. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Daktronics in the fourth quarter valued at approximately $4,240,000. Finally, Anthracite Investment Company Inc. acquired a new position in Daktronics during the fourth quarter worth $4,069,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

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.