BidaskClub Lowers Daktronics (DAKT) to Buy

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BidaskClub lowered shares of Daktronics (NASDAQ:DAKT) from a strong-buy rating to a buy rating in a report published on Wednesday.

Separately, Singular Research decreased their price target on shares of Daktronics from $12.00 to $10.00 and set a buy rating on the stock in a report on Friday, September 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $10.00.

Shares of DAKT opened at $8.25 on Wednesday. The firm has a market capitalization of $375.03 million, a price-to-earnings ratio of 52.25 and a beta of 0.95. Daktronics has a fifty-two week low of $7.14 and a fifty-two week high of $10.11. The company has a current ratio of 1.99, a quick ratio of 1.49 and a debt-to-equity ratio of 0.08.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings results on Wednesday, November 21st. The technology company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $172.70 million for the quarter, compared to analyst estimates of $170.01 million. Daktronics had a net margin of 0.53% and a return on equity of 3.71%. Daktronics’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.16 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Monday, December 10th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, December 7th. This represents a $0.28 annualized dividend and a dividend yield of 3.39%.

In related news, CFO Sheila Mae Anderson sold 3,500 shares of Daktronics stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $8.94, for a total transaction of $31,290.00. Following the transaction, the chief financial officer now owns 17,971 shares in the company, valued at approximately $160,660.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carla S. Gatzke sold 5,411 shares of Daktronics stock in a transaction on Friday, November 30th. The shares were sold at an average price of $8.92, for a total transaction of $48,266.12. Following the transaction, the insider now owns 443,839 shares in the company, valued at approximately $3,959,043.88. The disclosure for this sale can be found here. Insiders have sold a total of 19,411 shares of company stock worth $170,486 in the last 90 days. Company insiders own 8.20% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Daktronics by 7.7% in the 2nd quarter. BlackRock Inc. now owns 5,220,944 shares of the technology company’s stock worth $44,431,000 after buying an additional 373,936 shares in the last quarter. Lesa Sroufe & Co bought a new stake in shares of Daktronics in the 3rd quarter worth about $2,845,000. Vanguard Group Inc. increased its position in shares of Daktronics by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,770,289 shares of the technology company’s stock worth $21,719,000 after purchasing an additional 285,447 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Daktronics by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,966,351 shares of the technology company’s stock worth $25,244,000 after purchasing an additional 150,674 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Daktronics by 19.6% in the 2nd quarter. Renaissance Technologies LLC now owns 708,000 shares of the technology company’s stock worth $6,025,000 after purchasing an additional 116,200 shares during the last quarter. Institutional investors and hedge funds own 58.79% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.

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