Daktronics (DAKT) Upgraded to “B-” at TheStreet
A number of other research firms have also commented on DAKT. Singular Research lowered their price objective on shares of Daktronics from $12.00 to $10.00 and set a buy rating on the stock in a research note on Friday, September 21st. BidaskClub lowered shares of Daktronics from a hold rating to a sell rating in a research note on Tuesday, August 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Daktronics currently has a consensus rating of Hold and an average target price of $10.00.
NASDAQ DAKT opened at $8.18 on Wednesday. Daktronics has a 12 month low of $7.14 and a 12 month high of $10.11. The company has a current ratio of 1.99, a quick ratio of 1.49 and a debt-to-equity ratio of 0.08. The company has a market cap of $366.96 million, a P/E ratio of 51.13 and a beta of 0.95.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Monday, December 10th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, December 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.42%.
In other Daktronics news, insider Carla S. Gatzke sold 5,411 shares of Daktronics stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $8.92, for a total value of $48,266.12. Following the transaction, the insider now owns 443,839 shares in the company, valued at $3,959,043.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Sheila Mae Anderson sold 3,500 shares of Daktronics stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $8.94, for a total transaction of $31,290.00. Following the completion of the transaction, the chief financial officer now owns 17,971 shares in the company, valued at approximately $160,660.74. The disclosure for this sale can be found here. Insiders have sold 19,411 shares of company stock worth $170,486 in the last quarter. Company insiders own 8.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. MetLife Investment Advisors LLC grew its position in Daktronics by 152.1% in the second quarter. MetLife Investment Advisors LLC now owns 17,820 shares of the technology company’s stock worth $152,000 after buying an additional 10,751 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Daktronics in the third quarter worth approximately $167,000. OppenheimerFunds Inc. grew its position in Daktronics by 17.6% in the second quarter. OppenheimerFunds Inc. now owns 47,277 shares of the technology company’s stock worth $402,000 after buying an additional 7,086 shares during the last quarter. Man Group plc grew its position in Daktronics by 112.8% in the third quarter. Man Group plc now owns 56,600 shares of the technology company’s stock worth $444,000 after buying an additional 30,000 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Daktronics by 83.5% in the third quarter. Russell Investments Group Ltd. now owns 66,601 shares of the technology company’s stock worth $522,000 after buying an additional 30,301 shares during the last quarter. Hedge funds and other institutional investors own 58.79% of the company’s stock.
Daktronics, Inc designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.
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