Today, Daktronics Inc. (DAKT) Earns “Buy” Rating from Needham & Company LLC

Today, Daktronics Inc. (DAKT) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Daktronics Inc. (NASDAQ:DAKT) in a research report sent to investors on Saturday. Needham & Company LLC currently has a $11.00 target price on the stock, up from their prior target price of $9.50.

Several other analysts have also weighed in on the stock. TheStreet upgraded shares of Daktronics from a hold rating to a buy rating in a research report on Monday, November 21st. Zacks Investment Research upgraded shares of Daktronics from a hold rating to a buy rating and set a $9.25 target price on the stock in a research report on Friday, November 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Daktronics currently has a consensus rating of Buy and an average price target of $10.13.

Shares of Daktronics (NASDAQ:DAKT) traded up 2.01% during mid-day trading on Friday, reaching $10.64. 140,325 shares of the company were exchanged. Daktronics has a 12 month low of $5.92 and a 12 month 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. The firm has a 50-day moving average price of $8.93 and a 200 day moving average price of $7.98.

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

Institutional investors have recently made changes to their positions in the stock. American International Group Inc. increased its position in shares of Daktronics by 0.7% in the third quarter. American International Group Inc. now owns 27,824 shares of the company’s stock valued at $265,000 after buying an additional 183 shares in the last quarter. BlackRock Advisors LLC increased its position in shares of Daktronics by 1.0% in the third quarter. BlackRock Advisors LLC now owns 18,919 shares of the company’s stock valued at $180,000 after buying an additional 193 shares in the last quarter. Arizona State Retirement System increased its position in shares of Daktronics by 1.0% in the second quarter. Arizona State Retirement System now owns 20,091 shares of the company’s stock valued at $126,000 after buying an additional 200 shares in the last quarter. Bank of Montreal Can increased its position in shares of Daktronics by 0.6% in the third quarter. Bank of Montreal Can now owns 34,312 shares of the company’s stock valued at $327,000 after buying an additional 212 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Daktronics by 3.5% in the third quarter. BlackRock Inc. now owns 11,250 shares of the company’s stock valued at $107,000 after buying an additional 382 shares in the last quarter. 43.96% of the stock is owned by hedge funds and other institutional investors.

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