Daktronics (NASDAQ:DAKT) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Daktronics (NASDAQ:DAKT) from a hold rating to a buy rating in a research note released on Monday morning.

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

Daktronics Trading Up 0.7 %

Shares of DAKT opened at $13.71 on Monday. Daktronics has a 1 year low of $7.20 and a 1 year high of $15.97. The company has a current ratio of 2.17, a quick ratio of 1.48 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $13.50 and a 200-day simple moving average of $12.36. The stock has a market cap of $634.72 million, a PE ratio of 22.48, a PEG ratio of 0.47 and a beta of 1.14.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.30 by $0.06. The business had revenue of $226.09 million for the quarter, compared to analysts’ expectations of $216.84 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. On average, sell-side analysts predict that Daktronics will post 0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Daktronics news, EVP Bradley T. Wiemann sold 25,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the sale, the executive vice president now directly owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Matthew John Kurtenbach sold 15,400 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total value of $204,512.00. Following the transaction, the vice president now owns 2,500 shares of the company’s stock, valued at approximately $33,200. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bradley T. Wiemann sold 25,000 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the transaction, the executive vice president now owns 85,446 shares in the company, valued at $1,101,398.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,872 shares of company stock valued at $608,838 in the last three months. 8.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Daktronics

A number of institutional investors have recently bought and sold shares of DAKT. Duquesne Family Office LLC lifted its position in shares of Daktronics by 20.3% during 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 acquiring an additional 420,161 shares during the period. Vanguard Group Inc. grew its position in Daktronics by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,338,484 shares of the technology company’s stock worth $23,291,000 after acquiring an additional 41,076 shares during the last quarter. Progeny 3 Inc. increased its stake in shares of Daktronics by 140.0% in the second quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after buying an additional 1,047,156 shares during the period. First Bank & Trust increased its position in Daktronics by 29.5% in the 1st quarter. First Bank & Trust now owns 997,216 shares of the technology company’s stock valued at $9,932,000 after acquiring an additional 227,108 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Daktronics by 27.5% during the 2nd quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock worth $12,134,000 after buying an additional 187,486 shares during the period. Institutional investors own 61.69% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays 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.