Needham & Company LLC reiterated their buy rating on shares of Daktronics Inc. (NASDAQ:DAKT) in a research report sent to investors on Saturday. The firm currently has a $11.00 price target on the stock, up from their prior price target of $9.50.
Other research analysts have also issued reports about the company. Zacks Investment Research raised Daktronics from a strong sell rating to a hold rating in a report on Tuesday, August 2nd. TheStreet raised Daktronics from a hold rating to a buy rating in a report on Monday, November 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $10.13.
Daktronics (NASDAQ:DAKT) traded up 2.01% on Friday, reaching $10.64. 140,325 shares of the company’s 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 1-year low of $5.92 and a 1-year high of $10.78. The stock has a market capitalization of $466.80 million, a P/E ratio of 122.30 and a beta of 1.39.
Daktronics (NASDAQ:DAKT) last issued its earnings results on Tuesday, November 22nd. The company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.09. Daktronics had a return on equity of 4.76% and a net margin of 1.64%. The firm had revenue of $170 million for the quarter, compared to analyst estimates of $161.50 million. During the same period last year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts expect that Daktronics will post $0.29 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KCG Holdings Inc. purchased a new position in Daktronics during the third quarter worth about $100,000. BlackRock Inc. raised its position in Daktronics by 3.5% in the third quarter. BlackRock Inc. now owns 11,250 shares of the company’s stock worth $107,000 after buying an additional 382 shares during the last quarter. Matarin Capital Management LLC purchased a new position in Daktronics during the third quarter worth about $109,000. Smith Asset Management Group LP purchased a new position in Daktronics during the third quarter worth about $110,000. Finally, Acrospire Investment Management LLC purchased a new position in Daktronics during the third quarter worth about $143,000. 43.96% of the stock is currently owned by hedge funds and other institutional investors.
Daktronics Company Profile