Daktronics (DAKT) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Daktronics (NASDAQ:DAKT) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

According to Zacks, “Daktronics Inc. has strong leadership positions in, and is one of the world’s largest suppliers of, electronic scoreboards, computer-programmable displays, and large screen video displays and control systems. The company excels in the control of large display systems, including those that require integration of multiple complex displays showing real-time information, graphics, animation and video. Daktronics designs, manufactures, markets and services display systems for customers around the world in sport, business and transportation applications. “

Several other research firms have also recently weighed in on DAKT. TheStreet upgraded Daktronics from a c+ rating to a b- rating in a research note on Wednesday, September 27th. BidaskClub cut Daktronics from a sell rating to a strong sell rating in a research note on Wednesday, December 6th.

Daktronics (NASDAQ DAKT) traded up $0.01 during midday trading on Thursday, reaching $9.37. The company’s stock had a trading volume of 73,400 shares, compared to its average volume of 140,185. The company has a quick ratio of 1.53, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Daktronics has a 12-month low of $7.84 and a 12-month high of $11.12. The company has a market capitalization of $416.28, a PE ratio of 37.44 and a beta of 1.22.

Daktronics (NASDAQ:DAKT) last released its earnings results on Tuesday, November 21st. The technology company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Daktronics had a return on equity of 5.56% and a net margin of 1.89%. The business had revenue of $169.30 million for the quarter, compared to the consensus estimate of $172.55 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. equities research analysts expect that Daktronics will post 0.36 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Monday, December 11th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, December 8th. This represents a $0.28 annualized dividend and a dividend yield of 2.99%. Daktronics’s dividend payout ratio (DPR) is presently 112.00%.

In other news, insider Carla S. Gatzke sold 2,996 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $10.27, for a total transaction of $30,768.92. Following the completion of the transaction, the insider now directly owns 435,063 shares in the company, valued at $4,468,097.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Capital Investment Advisory Services LLC acquired a new stake in Daktronics during the 3rd quarter worth about $107,000. Stevens Capital Management LP acquired a new stake in Daktronics during the 3rd quarter worth about $120,000. UBS Asset Management Americas Inc. grew its holdings in Daktronics by 0.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 12,084 shares of the technology company’s stock worth $116,000 after acquiring an additional 64 shares during the period. Jane Street Group LLC acquired a new stake in Daktronics during the 3rd quarter worth about $130,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Daktronics during the 2nd quarter worth about $123,000. Hedge funds and other institutional investors own 53.63% of the company’s stock.

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About Daktronics

Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.

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