Daktronics (NASDAQ:DAKT) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of Daktronics (NASDAQ:DAKT) from a strong sell rating to a sell rating in a report published on Friday morning, BidAskClub reports.

Separately, ValuEngine upgraded Daktronics from a hold rating to a buy rating in a report on Friday, October 25th.

DAKT stock opened at $6.24 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.88 and a quick ratio of 1.33. The business has a 50 day simple moving average of $6.06 and a 200-day simple moving average of $6.56. The firm has a market capitalization of $281.74 million, a PE ratio of 624.62 and a beta of 0.92. Daktronics has a 1 year low of $5.78 and a 1 year high of $8.64.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, November 27th. The technology company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $174.90 million during the quarter, compared to analyst estimates of $177.22 million. Daktronics had a return on equity of 0.09% and a net margin of 0.03%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share.

In other Daktronics news, CEO Reece A. Kurtenbach acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were purchased at an average cost of $6.03 per share, for a total transaction of $60,300.00. Also, VP Matthew John Kurtenbach sold 13,130 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $6.01, for a total value of $78,911.30. Following the completion of the transaction, the vice president now owns 210,802 shares in the company, valued at $1,266,920.02. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAKT. Vanguard Group Inc. lifted its holdings in Daktronics by 23.2% in the second quarter. Vanguard Group Inc. now owns 3,248,302 shares of the technology company’s stock valued at $20,041,000 after acquiring an additional 610,975 shares during the last quarter. Invesco Ltd. lifted its stake in Daktronics by 16.0% during the second quarter. Invesco Ltd. now owns 307,710 shares of the technology company’s stock worth $1,899,000 after purchasing an additional 42,422 shares in the last quarter. Morgan Stanley lifted its stake in Daktronics by 37.1% during the second quarter. Morgan Stanley now owns 236,697 shares of the technology company’s stock worth $1,461,000 after purchasing an additional 64,027 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Daktronics by 9.7% during the second quarter. UBS Asset Management Americas Inc. now owns 41,555 shares of the technology company’s stock worth $256,000 after purchasing an additional 3,663 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Daktronics by 111.8% during the third quarter. State of Alaska Department of Revenue now owns 28,665 shares of the technology company’s stock worth $211,000 after purchasing an additional 15,134 shares in the last quarter. Hedge funds and other institutional investors own 59.68% of the company’s stock.

About Daktronics

Daktronics, Inc designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.

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