Daktronics (NASDAQ:DAKT) Rating Increased to Strong-Buy at Zacks Research

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

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Daktronics in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Daktronics Trading Up 0.3%

Shares of Daktronics stock traded up $0.07 during trading on Tuesday, reaching $22.08. The company’s stock had a trading volume of 25,236 shares, compared to its average volume of 321,915. The company has a quick ratio of 1.71, a current ratio of 2.23 and a debt-to-equity ratio of 0.18. Daktronics has a 52-week low of $10.24 and a 52-week high of $24.38. The firm’s 50-day moving average is $19.37 and its two-hundred day moving average is $18.84. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 169.86, a PEG ratio of 0.62 and a beta of 1.72.

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

Institutional Investors Weigh In On Daktronics

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

About Daktronics

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.