Daktronics (NASDAQ:DAKT) Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Daktronics (NASDAQ:DAKT) from a buy rating to a hold rating in a report issued on Friday.

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

Daktronics Stock Up 1.9 %

Shares of NASDAQ:DAKT opened at $12.56 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48. The business has a 50 day simple moving average of $14.16 and a two-hundred day simple moving average of $11.74. Daktronics has a 1 year low of $7.20 and a 1 year high of $15.97. The firm has a market capitalization of $582.03 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 posted its quarterly earnings results on Wednesday, June 26th. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The firm had revenue of $215.88 million for the quarter, compared to analysts’ expectations of $179.28 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. On average, equities analysts predict that Daktronics will post 0.89 EPS for the current year.

Insider Activity at Daktronics

In related news, VP Matthew John Kurtenbach sold 2,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $14.96, for a total transaction of $29,920.00. Following the transaction, the vice president now directly owns 208,906 shares in the company, valued at approximately $3,125,233.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Matthew John Kurtenbach sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $14.96, for a total transaction of $29,920.00. Following the completion of the transaction, the vice president now owns 208,906 shares of the company’s stock, valued at $3,125,233.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Bradley T. Wiemann sold 1,839 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $14.66, for a total transaction of $26,959.74. Following the transaction, the executive vice president now owns 108,743 shares of the company’s stock, valued at $1,594,172.38. The disclosure for this sale can be found here. Insiders sold 48,811 shares of company stock valued at $692,532 over the last 90 days. Insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DAKT. Breach Inlet Capital Management LLC acquired a new position in shares of Daktronics in the fourth quarter worth about $11,508,000. Progeny 3 Inc. lifted its position in shares of Daktronics by 140.0% during the 2nd 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 in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Daktronics in the 1st quarter worth $7,482,000. Intrinsic Edge Capital Management LLC purchased a new stake in Daktronics in the 4th quarter worth $4,240,000. Finally, Anthracite Investment Company Inc. purchased a new position in Daktronics during the fourth quarter valued at $4,069,000. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

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.