Daktronics, Inc. (NASDAQ:DAKT) has been assigned an average rating of “Hold” from the six analysts that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $12.25.
Several research firms recently weighed in on DAKT. Zacks Investment Research downgraded Daktronics from a “hold” rating to a “sell” rating in a research report on Wednesday, March 15th. Needham & Company LLC lowered their target price on Daktronics from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. TheStreet downgraded Daktronics from a “b” rating to a “c+” rating in a research report on Tuesday, February 21st. Finally, Singular Research began coverage on Daktronics in a research report on Monday, December 19th. They set a “buy” rating and a $14.00 target price on the stock.
Daktronics (NASDAQ:DAKT) opened at 9.19 on Friday. Daktronics has a 12 month low of $5.92 and a 12 month high of $11.12. The company has a market capitalization of $404.98 million, a price-to-earnings ratio of 62.52 and a beta of 1.41. The stock’s 50 day moving average price is $9.59 and its 200 day moving average price is $9.72.
Daktronics (NASDAQ:DAKT) last released its earnings results on Tuesday, February 21st. The company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. The company had revenue of $115.70 million for the quarter, compared to analysts’ expectations of $126.07 million. Daktronics had a net margin of 1.64% and a return on equity of 4.76%. Daktronics’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) earnings per share. Equities research analysts anticipate that Daktronics will post $0.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Monday, March 13th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $0.28 annualized dividend and a dividend yield of 3.05%. Daktronics’s payout ratio is 127.28%.
In other news, Director James B. Morgan sold 7,500 shares of the business’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $10.65, for a total value of $79,875.00. Following the transaction, the director now directly owns 1,399,265 shares in the company, valued at $14,902,172.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James B. Morgan sold 12,500 shares of the business’s stock in a transaction dated Thursday, December 29th. The shares were sold at an average price of $10.67, for a total value of $133,375.00. Following the completion of the transaction, the director now owns 1,389,265 shares in the company, valued at $14,823,457.55. The disclosure for this sale can be found here. Insiders sold 27,500 shares of company stock worth $292,600 over the last 90 days. Company insiders own 8.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in DAKT. Matarin Capital Management LLC acquired a new position in shares of Daktronics during the third quarter valued at approximately $109,000. Smith Asset Management Group LP acquired a new position in shares of Daktronics during the third quarter valued at approximately $110,000. Acrospire Investment Management LLC acquired a new position in shares of Daktronics during the third quarter valued at approximately $143,000. DIAM Co. Ltd. acquired a new position in shares of Daktronics during the third quarter valued at approximately $148,000. Finally, AQR Capital Management LLC acquired a new position in shares of Daktronics during the fourth quarter valued at approximately $173,000. Institutional investors and hedge funds own 50.03% of the company’s stock.
Daktronics Company Profile
Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.
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