Daktronics (NASDAQ:DAKT) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Daktronics (NASDAQ:DAKT) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

DAKT has been the subject of several other reports. Roth Mkm initiated coverage on Daktronics in a research report on Wednesday, June 10th. They issued a “buy” rating and a $26.00 price objective for the company. Wall Street Zen raised Daktronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings lowered Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Daktronics has an average rating of “Moderate Buy” and an average target price of $26.00.

Daktronics Stock Performance

DAKT stock opened at $20.23 on Monday. The stock has a 50-day moving average price of $19.80 and a 200-day moving average price of $20.99. Daktronics has a 1-year low of $13.30 and a 1-year high of $28.27. The company has a current ratio of 2.22, a quick ratio of 1.68 and a debt-to-equity ratio of 0.19. The firm has a market cap of $977.11 million, a PE ratio of 36.78, a price-to-earnings-growth ratio of 0.54 and a beta of 1.66.

Institutional Trading of Daktronics

Large investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Daktronics in the 3rd quarter valued at about $25,000. Cornerstone Planning Group LLC acquired a new stake in shares of Daktronics in the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Daktronics by 22,566.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock valued at $27,000 after buying an additional 1,354 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Daktronics by 204.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after buying an additional 2,045 shares during the period. Finally, Clearstead Advisors LLC acquired a new stake in shares of Daktronics in the 4th quarter valued at about $57,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

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.