Daktronics (NASDAQ:DAKT) Research Coverage Started at Craig Hallum

Craig Hallum began coverage on shares of Daktronics (NASDAQ:DAKT) in a research note released on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $26.00 price objective on the technology company’s stock.

Separately, StockNews.com upgraded Daktronics from a “hold” rating to a “buy” rating in a report on Monday, October 14th.

Daktronics Stock Performance

NASDAQ DAKT opened at $17.07 on Wednesday. The company has a fifty day moving average price of $16.73 and a 200-day moving average price of $14.79. The firm has a market cap of $803.83 million, a price-to-earnings ratio of 68.28, a PEG ratio of 0.61 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. Daktronics has a 1 year low of $7.20 and a 1 year high of $19.89.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings data on Wednesday, December 4th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Daktronics had a return on equity of 19.61% and a net margin of 3.62%. As a group, equities research analysts predict that Daktronics will post 0.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Daktronics news, CEO Reece A. Kurtenbach sold 8,048 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $18.75, for a total value of $150,900.00. Following the completion of the sale, the chief executive officer now directly owns 469,727 shares of the company’s stock, valued at $8,807,381.25. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Patrick Friel sold 2,244 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total value of $40,773.48. Following the transaction, the director now owns 87,573 shares of the company’s stock, valued at $1,591,201.41. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Daktronics

Several institutional investors have recently added to or reduced their stakes in the business. Quarry LP raised its position in shares of Daktronics by 75.6% in the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock valued at $30,000 after purchasing an additional 989 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Daktronics by 92.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,108 shares during the period. Virtus Fund Advisers LLC purchased a new position in Daktronics during the 3rd quarter valued at about $75,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Daktronics during the third quarter valued at about $164,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Daktronics in the fourth quarter worth about $170,000. 61.69% of the stock is owned by hedge funds and other institutional investors.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.