Daktronics Inc. (NASDAQ:DAKT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $12.00 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 14.29% from the stock’s previous close.
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 research analysts have also recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price (up previously from $9.50) on shares of Daktronics in a research note on Saturday. TheStreet raised shares of Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, November 21st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $11.50.
Daktronics (NASDAQ:DAKT) traded up 1.60% on Monday, reaching $10.81. 321,016 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $8.97 and a 200-day moving average of $7.99. The stock has a market cap of $474.26 million, a price-to-earnings ratio of 124.25 and a beta of 1.39. Daktronics has a one year low of $5.92 and a one year high of $10.81.
Daktronics (NASDAQ:DAKT) last announced its earnings results on Tuesday, November 22nd. The company reported $0.20 earnings per share (EPS) for the quarter, topping 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 company had revenue of $170 million for the quarter, compared to analysts’ expectations of $161.50 million. During the same quarter in the previous year, the company posted $0.07 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Daktronics will post $0.29 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Credit Suisse AG boosted its position in Daktronics by 36.5% in the third quarter. Credit Suisse AG now owns 79,530 shares of the company’s stock worth $758,000 after buying an additional 21,268 shares during the last quarter. Highbridge Capital Management LLC bought a new position in Daktronics during the third quarter worth approximately $463,000. D. E. Shaw & Co. Inc. boosted its position in Daktronics by 1,413.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 242,362 shares of the company’s stock worth $2,312,000 after buying an additional 226,348 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Daktronics during the third quarter worth approximately $263,000. Finally, Two Sigma Advisers LP boosted its position in Daktronics by 71.0% in the third quarter. Two Sigma Advisers LP now owns 212,242 shares of the company’s stock worth $2,025,000 after buying an additional 88,100 shares during the last quarter. 46.67% of the stock is currently owned by hedge funds and other institutional investors.
Daktronics Company Profile
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.