Daktronics Inc. (NASDAQ:DAKT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Monday. The brokerage presently has a $12.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 14.29% from the company’s current price.
According to Zacks, “Daktronics Inc. has strong leadership positions in, and is one of the world’s largest suppliers of, electronic scoreboards, computer-programmable displays, and large screen video displays and control systems. The company excels in the control of large display systems, including those that require integration of multiple complex displays showing real-time information, graphics, animation and video. Daktronics designs, manufactures, markets and services display systems for customers around the world in sport, business and transportation applications. “
Several other equities analysts have also issued reports on DAKT. Needham & Company LLC restated a “buy” rating and set a $11.00 target price (up from $9.50) on shares of Daktronics in a research report on Saturday. TheStreet upgraded Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, November 21st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Daktronics currently has a consensus rating of “Buy” and a consensus target price of $11.50.
Daktronics (NASDAQ:DAKT) traded up 1.60% during mid-day trading on Monday, reaching $10.81. 321,016 shares of the company’s stock were exchanged. Daktronics has a 52 week low of $5.92 and a 52 week high of $10.81. The stock has a 50-day moving average price of $8.97 and a 200-day moving average price of $7.99. The stock has a market cap of $474.26 million, a P/E ratio of 124.25 and a beta of 1.39.
Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.09. The firm earned $170 million during the quarter, compared to analyst estimates of $161.50 million. Daktronics had a return on equity of 4.76% and a net margin of 1.64%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. On average, analysts forecast that Daktronics will post $0.29 earnings per share for the current year.
Several institutional investors have recently modified their holdings of DAKT. Prudential Financial Inc. boosted its stake in Daktronics by 3.4% in the first quarter. Prudential Financial Inc. now owns 90,752 shares of the company’s stock valued at $717,000 after buying an additional 3,000 shares during the last quarter. Bank of Montreal Can purchased a new stake in Daktronics during the second quarter valued at approximately $213,000. Quantitative Systematic Strategies LLC boosted 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 last quarter. Wedge Capital Management L L P NC boosted 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 last quarter. Finally, Hanson & Doremus Investment Management boosted its stake in Daktronics by 7.2% in the second quarter. Hanson & Doremus Investment Management now owns 79,095 shares of the company’s stock valued at $494,000 after buying an additional 5,290 shares during the last quarter. Institutional investors and hedge funds own 46.67% of the company’s stock.
Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.