Today, Daktronics’ (DAKT) Buy Rating Reiterated at Needham & Company LLC

Today, Daktronics’ (DAKT) Buy Rating Reiterated at Needham & Company LLC

Daktronics Inc. (NASDAQ:DAKT)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Saturday. They currently have a $11.00 price target on the stock, up from their prior price target of $9.50. Needham & Company LLC’s target price would indicate a potential upside of 3.38% from the stock’s previous close.

DAKT has been the subject of a number of other research reports. Zacks Investment Research raised shares of Daktronics from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a research note on Friday, August 26th. TheStreet raised shares of Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, November 21st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.13.

Daktronics (NASDAQ:DAKT) traded up 2.01% during trading on Friday, hitting $10.64. 140,325 shares of the stock were exchanged. The firm’s 50-day moving average is $8.93 and its 200 day moving average is $7.98. Daktronics has a 52 week low of $5.92 and a 52 week high of $10.78. The firm has a market cap of $466.80 million, a PE ratio of 122.30 and a beta of 1.39.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $170 million for the quarter, compared to analyst estimates of $161.50 million. Daktronics had a net margin of 1.64% and a return on equity of 4.76%. Daktronics’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 earnings per share. Analysts expect that Daktronics will post $0.29 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in DAKT. Mondrian Investment Partners LTD increased its stake in Daktronics by 29.5% in the second quarter. Mondrian Investment Partners LTD now owns 505,487 shares of the company’s stock valued at $3,159,000 after buying an additional 115,142 shares during the period. Wedge Capital Management L L P NC increased its stake in Daktronics by 11.4% in the second quarter. Wedge Capital Management L L P NC now owns 53,846 shares of the company’s stock valued at $337,000 after buying an additional 5,517 shares during the period. First Personal Financial Services increased its stake in Daktronics by 23.3% in the second quarter. First Personal Financial Services now owns 149,264 shares of the company’s stock valued at $933,000 after buying an additional 28,211 shares during the period. Quantitative Systematic Strategies LLC increased its stake in Daktronics by 129.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 26,338 shares of the company’s stock valued at $163,000 after buying an additional 14,868 shares during the period. Finally, Icon Advisers Inc. Co. increased its stake in Daktronics by 76.1% in the second quarter. Icon Advisers Inc. Co. now owns 159,000 shares of the company’s stock valued at $994,000 after buying an additional 68,700 shares during the period. 43.96% of the stock is owned by institutional investors and hedge funds.

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