Daktronics (NASDAQ:DAKT) Upgraded to Hold at Zacks Research

Daktronics (NASDAQ:DAKT) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on DAKT. Roth Mkm assumed coverage on shares of Daktronics in a research report on Wednesday, June 10th. They issued a “buy” rating and a $26.00 price target for the company. Weiss Ratings cut shares of Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. Finally, Wall Street Zen upgraded shares of Daktronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Daktronics currently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Daktronics Trading Down 2.8%

Shares of NASDAQ DAKT opened at $20.23 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.68 and a current ratio of 2.22. Daktronics has a 52-week low of $13.30 and a 52-week high of $28.27. The firm has a 50 day moving average price of $19.80 and a two-hundred day moving average price of $20.99. The stock has a market cap of $977.11 million, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 0.54 and a beta of 1.66.

Institutional Investors Weigh In On Daktronics

A number of institutional investors have recently modified their holdings of the company. Duquesne Family Office LLC boosted its stake in shares of Daktronics by 0.3% in the 2nd quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company’s stock valued at $46,513,000 after purchasing an additional 8,599 shares during the last quarter. Progeny 3 Inc. boosted its stake in shares of Daktronics by 3.6% in the 3rd quarter. Progeny 3 Inc. now owns 2,746,408 shares of the technology company’s stock valued at $57,455,000 after purchasing an additional 96,371 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Daktronics by 2.8% in the 3rd quarter. American Century Companies Inc. now owns 1,664,668 shares of the technology company’s stock valued at $34,825,000 after purchasing an additional 44,731 shares during the last quarter. Breach Inlet Capital Management LLC boosted its stake in shares of Daktronics by 32.8% in the 4th quarter. Breach Inlet Capital Management LLC now owns 1,272,552 shares of the technology company’s stock valued at $25,158,000 after purchasing an additional 314,133 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Daktronics by 13.1% in the 1st quarter. Renaissance Technologies LLC now owns 822,854 shares of the technology company’s stock valued at $16,087,000 after purchasing an additional 95,393 shares during the last quarter. 61.69% of the stock is 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.