ValuEngine upgraded shares of Daktronics (NASDAQ:DAKT) from a sell rating to a hold rating in a report released on Wednesday.
Other research analysts also recently issued research reports about the company. Sidoti started coverage on Daktronics in a research note on Wednesday, January 24th. They issued a neutral rating and a $10.00 price objective for the company. Zacks Investment Research downgraded shares of Daktronics from a hold rating to a sell rating in a research report on Thursday, December 14th. TheStreet downgraded shares of Daktronics from a b- rating to a c+ rating in a research report on Wednesday, February 21st. Finally, BidaskClub raised shares of Daktronics from a strong sell rating to a sell rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $10.50.
Daktronics (DAKT) traded up $0.17 on Wednesday, reaching $9.26. 97,185 shares of the company traded hands, compared to its average volume of 332,057. Daktronics has a 1-year low of $8.58 and a 1-year high of $10.86. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.18 and a quick ratio of 1.60. The company has a market capitalization of $407.38, a PE ratio of 40.26 and a beta of 1.16.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Monday, March 12th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Friday, March 9th. Daktronics’s dividend payout ratio is presently 121.74%.
A number of large investors have recently added to or reduced their stakes in DAKT. Renaissance Technologies LLC increased its position in Daktronics by 40.6% during the 4th quarter. Renaissance Technologies LLC now owns 596,948 shares of the technology company’s stock valued at $5,450,000 after purchasing an additional 172,300 shares during the period. Systematic Financial Management LP boosted its holdings in shares of Daktronics by 68.8% during the 4th quarter. Systematic Financial Management LP now owns 378,450 shares of the technology company’s stock worth $3,455,000 after buying an additional 154,258 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Daktronics by 104.6% during the 4th quarter. Deutsche Bank AG now owns 288,759 shares of the technology company’s stock worth $2,634,000 after buying an additional 147,620 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Daktronics by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,179,448 shares of the technology company’s stock worth $20,988,000 after buying an additional 119,913 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in shares of Daktronics by 592.0% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 104,150 shares of the technology company’s stock worth $950,000 after buying an additional 89,100 shares in the last quarter. 55.49% of the stock is owned by institutional investors and hedge funds.
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Daktronics Company Profile
Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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