Daktronics (NASDAQ:DAKT) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Daktronics (NASDAQ:DAKT) from a buy rating to a hold rating in a research note issued to investors on Friday.

Separately, Singular Research raised shares of Daktronics to a strong-buy rating in a research note on Monday, September 9th.

Daktronics Price Performance

Shares of NASDAQ:DAKT opened at $12.66 on Friday. The firm has a market capitalization of $586.11 million, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 0.45 and a beta of 1.14. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48. The business’s 50 day simple moving average is $14.14 and its 200-day simple moving average is $11.81. Daktronics has a 12 month low of $7.20 and a 12 month high of $15.97.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, June 26th. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The company had revenue of $215.88 million for the quarter, compared to the consensus estimate of $179.28 million. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. As a group, equities analysts forecast that Daktronics will post 0.89 earnings per share for the current fiscal year.

Insider Activity at Daktronics

In other Daktronics news, VP Matthew John Kurtenbach sold 2,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $14.96, for a total transaction of $29,920.00. Following the sale, the vice president now owns 208,906 shares in the company, valued at approximately $3,125,233.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Bradley T. Wiemann sold 1,839 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $14.66, for a total value of $26,959.74. Following the completion of the transaction, the executive vice president now owns 108,743 shares of the company’s stock, valued at $1,594,172.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Matthew John Kurtenbach sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.96, for a total transaction of $29,920.00. Following the sale, the vice president now owns 208,906 shares in the company, valued at approximately $3,125,233.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,811 shares of company stock valued at $692,532. 8.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Daktronics by 92.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,108 shares during the last quarter. Meros Investment Management LP boosted its stake in Daktronics by 1.6% in the 2nd quarter. Meros Investment Management LP now owns 485,811 shares of the technology company’s stock worth $6,777,000 after buying an additional 7,885 shares during the last quarter. Duquesne Family Office LLC grew its holdings in Daktronics by 20.3% in the 2nd quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock valued at $34,786,000 after buying an additional 420,161 shares during the period. Progeny 3 Inc. increased its stake in shares of Daktronics by 140.0% during the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after acquiring an additional 1,047,156 shares during the last quarter. Finally, Inspire Investing LLC purchased a new position in shares of Daktronics during the 2nd quarter worth about $998,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

About Daktronics

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.