Daktronics (DAKT) Rating Increased to Sell at BidaskClub

Daktronics (NASDAQ:DAKT) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday, April 13th, BidAskClub reports.

DAKT has been the subject of a number of other reports. TheStreet lowered Daktronics from a “b-” rating to a “c” rating in a report on Thursday, February 21st. Singular Research reaffirmed a “buy” rating on shares of Daktronics in a research note on Monday, March 4th.

Shares of Daktronics stock traded up $0.17 on Friday, reaching $7.60. 72,977 shares of the company were exchanged, compared to its average volume of 90,400. The company has a current ratio of 2.05, a quick ratio of 1.49 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $342.10 million, a price-to-earnings ratio of 34.55 and a beta of 1.02. Daktronics has a 1-year low of $7.14 and a 1-year high of $10.11.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings results on Wednesday, February 20th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). Daktronics had a return on equity of 3.01% and a net margin of 1.04%. The company had revenue of $115.10 million for the quarter, compared to analyst estimates of $129.45 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. Sell-side analysts predict that Daktronics will post 0.13 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bremer Trust National Association bought a new stake in shares of Daktronics during the 4th quarter worth $30,000. BNP Paribas Arbitrage SA boosted its stake in shares of Daktronics by 407.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,525 shares of the technology company’s stock worth $56,000 after acquiring an additional 6,042 shares in the last quarter. Capital Investment Advisory Services LLC bought a new stake in shares of Daktronics during the 4th quarter worth $66,000. PNC Financial Services Group Inc. boosted its stake in shares of Daktronics by 29.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,264 shares of the technology company’s stock worth $68,000 after acquiring an additional 2,082 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Daktronics by 262.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,770 shares of the technology company’s stock worth $72,000 after acquiring an additional 7,076 shares in the last quarter. 58.03% of the stock is owned by hedge funds and other institutional investors.

About Daktronics

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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