Zacks Research Downgrades Daktronics (NASDAQ:DAKT) to Hold

Daktronics (NASDAQ:DAKT) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Daktronics in a report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Daktronics Price Performance

Shares of DAKT traded up $0.62 during trading hours on Wednesday, hitting $27.95. 77,293 shares of the company were exchanged, compared to its average volume of 476,523. The company has a quick ratio of 1.71, a current ratio of 2.23 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 215.02, a P/E/G ratio of 0.80 and a beta of 1.73. The firm’s fifty day moving average is $21.96 and its 200 day moving average is $20.03. Daktronics has a fifty-two week low of $10.24 and a fifty-two week high of $28.22.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, December 10th. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. The business had revenue of $229.25 million during the quarter, compared to the consensus estimate of $213.93 million. Daktronics had a net margin of 0.96% and a return on equity of 15.42%. During the same period in the previous year, the business earned $0.27 earnings per share. On average, equities analysts anticipate that Daktronics will post 0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Daktronics

A number of hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Daktronics by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,856 shares of the technology company’s stock valued at $1,440,000 after purchasing an additional 519 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Daktronics by 0.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 77,264 shares of the technology company’s stock worth $1,503,000 after buying an additional 665 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Daktronics by 7.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,601 shares of the technology company’s stock valued at $210,000 after purchasing an additional 707 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Daktronics by 12.7% in the fourth quarter. Royal Bank of Canada now owns 6,430 shares of the technology company’s stock valued at $127,000 after purchasing an additional 724 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Daktronics by 3.2% during the second quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company’s stock valued at $357,000 after buying an additional 728 shares during the last quarter. 61.69% of the stock is currently owned by institutional investors.

About Daktronics

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.