Daktronics (NASDAQ:DAKT) Shares Up 8.8% on Analyst Upgrade

Shares of Daktronics, Inc. (NASDAQ:DAKT) shot up 8.8% on Thursday after Roth Mkm upgraded the stock to a strong-buy rating. The company traded as high as $21.86 and last traded at $20.82. 184,713 shares changed hands during trading, a decline of 58% from the average session volume of 441,856 shares. The stock had previously closed at $19.13.

Other research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Daktronics from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Daktronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings cut shares of Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of Daktronics in the third quarter worth about $540,000. American Century Companies Inc. grew its holdings in shares of Daktronics by 2.8% in the third quarter. American Century Companies Inc. now owns 1,664,668 shares of the technology company’s stock worth $34,825,000 after purchasing an additional 44,731 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Daktronics in the fourth quarter worth about $2,968,000. Legato Capital Management LLC purchased a new stake in Daktronics in the fourth quarter worth about $1,142,000. Finally, UBS Group AG lifted its stake in Daktronics by 41.2% in the fourth quarter. UBS Group AG now owns 150,669 shares of the technology company’s stock worth $2,979,000 after acquiring an additional 43,949 shares during the period. 61.69% of the stock is currently owned by institutional investors.

Daktronics Trading Down 2.9%

The stock’s 50 day moving average is $19.77 and its two-hundred day moving average is $20.96. The company has a market capitalization of $980.49 million, a PE ratio of 36.91, a price-to-earnings-growth ratio of 0.58 and a beta of 1.66. The company has a quick ratio of 1.68, a current ratio of 2.22 and a debt-to-equity ratio of 0.19.

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.