Daktronics (NASDAQ:DAKT) Upgraded at Zacks Research

Daktronics (NASDAQ:DAKT) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Daktronics in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Daktronics has an average rating of “Buy”.

Daktronics Trading Up 3.8%

Shares of Daktronics stock opened at $22.01 on Tuesday. Daktronics has a 1 year low of $10.24 and a 1 year high of $24.38. The company’s fifty day simple moving average is $19.37 and its 200-day simple moving average is $18.84. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 169.32, a PEG ratio of 0.62 and a beta of 1.72. The company has a current ratio of 2.23, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Daktronics had a net margin of 0.96% and a return on equity of 15.42%. The firm had revenue of $229.25 million during the quarter, compared to the consensus estimate of $213.93 million. During the same period in the prior year, the firm earned $0.27 EPS. As a group, sell-side analysts expect that Daktronics will post 0.96 EPS for the current year.

Hedge Funds Weigh In On Daktronics

Several institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Daktronics by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company’s stock valued at $295,000 after buying an additional 1,476 shares in the last quarter. Empowered Funds LLC increased its holdings in Daktronics by 2.1% during the 1st quarter. Empowered Funds LLC now owns 242,535 shares of the technology company’s stock valued at $2,954,000 after purchasing an additional 4,926 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Daktronics by 3.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 76,599 shares of the technology company’s stock valued at $1,158,000 after purchasing an additional 2,360 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in Daktronics in the second quarter worth $79,000. Finally, SummerHaven Investment Management LLC grew its holdings in shares of Daktronics by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 57,501 shares of the technology company’s stock worth $869,000 after purchasing an additional 1,146 shares during the last quarter. 61.69% of the stock is owned by institutional investors.

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.