Daktronics (NASDAQ:DAKT) Upgraded to Hold at Zacks Research

Daktronics (NASDAQ:DAKT) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other brokerages have also recently commented on DAKT. Weiss Ratings cut shares of Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of Daktronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Finally, Roth Mkm began coverage on shares of Daktronics in a report on Wednesday, June 10th. They set a “buy” rating and a $26.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Daktronics currently has an average rating of “Moderate Buy” and an average price target of $26.00.

Daktronics Price Performance

Shares of NASDAQ:DAKT opened at $20.23 on Monday. The firm has a 50 day moving average of $19.80 and a 200-day moving average of $20.99. The stock has a market capitalization of $977.11 million, a PE ratio of 36.78, a PEG ratio of 0.54 and a beta of 1.66. The company has a current ratio of 2.22, a quick ratio of 1.68 and a debt-to-equity ratio of 0.19. Daktronics has a 12 month low of $13.30 and a 12 month high of $28.27.

Hedge Funds Weigh In On Daktronics

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new position in Daktronics in the 3rd quarter worth about $25,000. Cornerstone Planning Group LLC acquired a new position in Daktronics in the 1st quarter worth about $26,000. Caitong International Asset Management Co. Ltd increased its holdings in Daktronics by 22,566.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,354 shares in the last quarter. Clearstead Advisors LLC acquired a new position in Daktronics in the 4th quarter worth about $57,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Daktronics by 204.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock worth $46,000 after purchasing an additional 2,045 shares in the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.