Daktronics (NASDAQ:DAKT) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Daktronics (NASDAQ:DAKT) from a strong-buy rating to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Daktronics in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Daktronics currently has an average rating of “Hold”.

Daktronics Stock Up 1.9%

Shares of NASDAQ DAKT traded up $0.51 during mid-day trading on Wednesday, hitting $27.84. The company had a trading volume of 44,698 shares, compared to its average volume of 475,147. The company has a current ratio of 2.23, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $21.96 and a two-hundred day simple moving average of $20.03. The company has a market capitalization of $1.36 billion, a PE ratio of 214.17, a price-to-earnings-growth ratio of 0.80 and a beta of 1.73. Daktronics has a one year low of $10.24 and a one year high of $28.22.

Daktronics (NASDAQ:DAKT) last released its earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. The business had revenue of $229.25 million for the quarter, compared to analyst estimates of $213.93 million. Daktronics had a return on equity of 15.42% and a net margin of 0.96%.During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, equities analysts expect that Daktronics will post 0.96 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in Daktronics during the 3rd quarter valued at $25,000. Caitong International Asset Management Co. Ltd raised its position in shares of Daktronics by 22,566.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,354 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Daktronics in the third quarter valued at about $43,000. Clearstead Advisors LLC acquired a new stake in shares of Daktronics during the 4th quarter worth about $57,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Daktronics by 204.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock worth $46,000 after buying an additional 2,045 shares during the period. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Company Profile

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.