Daktronics (NASDAQ:DAKT) Earns Buy Rating from Analysts at Craig Hallum

Research analysts at Craig Hallum initiated coverage on shares of Daktronics (NASDAQ:DAKT) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $26.00 price target on the technology company’s stock. Craig Hallum’s price objective would indicate a potential upside of 53.66% from the stock’s current price.

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

Daktronics Stock Up 1.7 %

DAKT stock opened at $16.92 on Wednesday. The company’s 50 day moving average is $16.56 and its two-hundred day moving average is $14.73. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. Daktronics has a twelve month low of $7.20 and a twelve month high of $19.89. The stock has a market cap of $795.00 million, a P/E ratio of 67.68, a PEG ratio of 0.58 and a beta of 1.17.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data on Wednesday, December 4th. The technology company reported $0.08 earnings per share 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%. Research analysts expect that Daktronics will post 0.96 earnings per share for the current fiscal year.

Insider Activity

In other Daktronics news, Director John Patrick Friel sold 2,244 shares of Daktronics stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total transaction of $40,773.48. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Reece A. Kurtenbach sold 8,048 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 469,727 shares in the company, valued at approximately $8,807,381.25. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Daktronics

Hedge funds have recently bought and sold shares of the business. Quarry LP lifted its stake in shares of Daktronics by 75.6% in the 3rd 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 last quarter. Northwestern Mutual Wealth Management Co. grew its position in Daktronics by 92.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after buying an additional 1,108 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in shares of Daktronics during the third quarter valued at approximately $75,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Daktronics in the third quarter worth about $164,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Daktronics during the 4th quarter worth about $170,000. 61.69% of the stock is owned by hedge funds and other institutional investors.

About Daktronics

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.