Daktronics (NASDAQ:DAKT) Lowered to “Strong Sell” at BidaskClub

Daktronics (NASDAQ:DAKT) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

Separately, ValuEngine upgraded Daktronics from a “hold” rating to a “buy” rating in a research report on Friday, October 25th.

Shares of NASDAQ:DAKT traded down $0.04 during midday trading on Tuesday, reaching $6.66. The company had a trading volume of 748 shares, compared to its average volume of 167,532. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.23 and a current ratio of 1.78. Daktronics has a 1-year low of $5.78 and a 1-year high of $9.14. The firm has a market cap of $302.97 million, a price-to-earnings ratio of 168.50 and a beta of 0.91. The company has a fifty day simple moving average of $7.00 and a two-hundred day simple moving average of $6.76.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.06. Daktronics had a return on equity of 0.76% and a net margin of 0.25%. The business had revenue of $180.30 million during the quarter, compared to analyst estimates of $156.92 million. During the same quarter last year, the company posted $0.10 EPS. Daktronics’s revenue for the quarter was up 16.9% on a year-over-year basis.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Daktronics by 23.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,248,302 shares of the technology company’s stock worth $20,041,000 after acquiring an additional 610,975 shares during the period. Morgan Stanley boosted its position in Daktronics by 37.1% during the 2nd quarter. Morgan Stanley now owns 236,697 shares of the technology company’s stock worth $1,461,000 after acquiring an additional 64,027 shares during the period. Northern Trust Corp boosted its position in Daktronics by 3.7% during the 2nd quarter. Northern Trust Corp now owns 488,383 shares of the technology company’s stock worth $3,013,000 after acquiring an additional 17,486 shares during the period. Strs Ohio boosted its position in Daktronics by 7.5% during the 2nd quarter. Strs Ohio now owns 77,200 shares of the technology company’s stock worth $476,000 after acquiring an additional 5,400 shares during the period. Finally, Invesco Ltd. boosted its position in Daktronics by 16.0% during the 2nd quarter. Invesco Ltd. now owns 307,710 shares of the technology company’s stock worth $1,899,000 after acquiring an additional 42,422 shares during the period. Institutional investors and hedge funds own 56.20% of the company’s stock.

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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