Daktronics (NASDAQ:DAKT) Downgraded by StockNews.com

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

Separately, Singular Research upgraded Daktronics to a strong-buy rating in a report on Monday, September 9th.

Daktronics Trading Up 1.9 %

NASDAQ DAKT opened at $12.56 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.48 and a debt-to-equity ratio of 0.48. Daktronics has a 1-year low of $7.20 and a 1-year high of $15.97. The firm’s fifty day simple moving average is $14.16 and its 200-day simple moving average is $11.78. The company has a market capitalization of $581.48 million, a PE ratio of 20.59, a price-to-earnings-growth ratio of 0.45 and a beta of 1.14.

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

Insider Buying and Selling at Daktronics

In related news, VP Matthew John Kurtenbach sold 3,000 shares of Daktronics stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.03, for a total value of $45,090.00. Following the transaction, the vice president now owns 208,906 shares in the company, valued at approximately $3,139,857.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Reece A. Kurtenbach sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $13.87, for a total transaction of $208,050.00. Following the sale, the chief executive officer now directly owns 457,963 shares in the company, valued at $6,351,946.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Matthew John Kurtenbach sold 3,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.03, for a total transaction of $45,090.00. Following the completion of the transaction, the vice president now owns 208,906 shares of the company’s stock, valued at approximately $3,139,857.18. The disclosure for this sale can be found here. Insiders have sold a total of 48,811 shares of company stock worth $692,532 over the last three months. Corporate insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Daktronics

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its position in Daktronics by 31.4% during the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after acquiring an additional 872 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Daktronics by 92.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,108 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Daktronics by 150.0% in the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock valued at $56,000 after buying an additional 2,400 shares during the period. Anchor Capital Advisors LLC boosted its position in shares of Daktronics by 1.9% in the 2nd quarter. Anchor Capital Advisors LLC now owns 148,387 shares of the technology company’s stock worth $2,070,000 after purchasing an additional 2,778 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new position in Daktronics during the first quarter worth about $34,000. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Company Profile

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.