Daktronics (NASDAQ:DAKT) Coverage Initiated at Craig Hallum

Equities researchers at Craig Hallum began coverage on shares of Daktronics (NASDAQ:DAKT) in a research note issued on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $26.00 price target on the technology company’s stock. Craig Hallum’s target price suggests a potential upside of 49.08% from the company’s current price.

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

Daktronics Price Performance

NASDAQ DAKT opened at $17.44 on Wednesday. The stock has a market capitalization of $819.51 million, a P/E ratio of 69.76, a P/E/G ratio of 0.59 and a beta of 1.17. Daktronics has a 1 year low of $7.20 and a 1 year high of $19.89. The business’s fifty day moving average is $16.67 and its two-hundred day moving average is $14.77. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, December 4th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.09). Daktronics had a net margin of 3.62% and a return on equity of 19.61%. On average, research analysts forecast that Daktronics will post 0.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Daktronics

In other Daktronics news, CEO Reece A. Kurtenbach sold 8,048 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $18.75, for a total transaction of $150,900.00. Following the sale, the chief executive officer now directly owns 469,727 shares of the company’s stock, valued at $8,807,381.25. The trade was a 1.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Patrick Friel sold 2,244 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $18.17, for a total transaction of $40,773.48. Following the sale, the director now directly owns 87,573 shares in the company, valued at approximately $1,591,201.41. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Daktronics

Hedge funds have recently modified their holdings of the stock. Quarry LP increased its stake in shares of Daktronics by 75.6% in the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after acquiring an additional 989 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Daktronics by 92.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,108 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in Daktronics in the third quarter worth $75,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Daktronics in the third quarter worth $164,000. Finally, Hennessy Advisors Inc. bought a new stake in Daktronics in the fourth quarter worth $170,000. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Company Profile

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.