Zacks Research Downgrades Daktronics (NASDAQ:DAKT) to Strong Sell

Daktronics (NASDAQ:DAKT) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Separately, Wall Street Zen lowered shares of Daktronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Daktronics presently has a consensus rating of “Reduce”.

Daktronics Stock Up 2.3%

Shares of NASDAQ DAKT opened at $19.71 on Monday. The firm has a market cap of $951.99 million, a PE ratio of 35.84, a P/E/G ratio of 0.53 and a beta of 1.67. Daktronics has a 12-month low of $13.05 and a 12-month high of $28.27. The company’s fifty day simple moving average is $21.01 and its 200 day simple moving average is $20.81. 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 (NASDAQ:DAKT) last issued its earnings results on Wednesday, March 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.09). The company had revenue of $181.87 million for the quarter, compared to the consensus estimate of $181.00 million. Daktronics had a return on equity of 16.55% and a net margin of 3.43%. As a group, sell-side analysts forecast that Daktronics will post 0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Invesco Ltd. lifted its position in shares of Daktronics by 399.2% during the second quarter. Invesco Ltd. now owns 510,243 shares of the technology company’s stock valued at $7,715,000 after purchasing an additional 408,037 shares in the last quarter. Boston Partners bought a new position in shares of Daktronics during the fourth quarter valued at about $6,248,000. Breach Inlet Capital Management LLC lifted its position in shares of Daktronics by 32.8% during the fourth quarter. Breach Inlet Capital Management LLC now owns 1,272,552 shares of the technology company’s stock valued at $25,158,000 after purchasing an additional 314,133 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in shares of Daktronics during the fourth quarter valued at about $5,364,000. Finally, Hillsdale Investment Management Inc. lifted its position in shares of Daktronics by 161.2% during the first quarter. Hillsdale Investment Management Inc. now owns 392,089 shares of the technology company’s stock valued at $7,665,000 after purchasing an additional 241,969 shares in the last quarter. 61.69% of the stock is owned by institutional investors.

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.