Analysts Set Daktronics, Inc. (DAKT) PT at $10.00

Daktronics, Inc. (NASDAQ:DAKT) has been assigned an average rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $10.00.

Several research firms have recently issued reports on DAKT. BidaskClub raised Daktronics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 22nd. Singular Research lowered their price target on Daktronics from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, September 21st.

In other Daktronics news, insider Carla S. Gatzke sold 5,411 shares of the business’s stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $8.92, for a total value of $48,266.12. Following the completion of the transaction, the insider now owns 443,839 shares of the company’s stock, valued at approximately $3,959,043.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Reece A. Kurtenbach sold 10,500 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $8.66, for a total value of $90,930.00. Following the completion of the transaction, the chairman now directly owns 295,607 shares of the company’s stock, valued at approximately $2,559,956.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,411 shares of company stock valued at $170,486. 8.20% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of DAKT. Principal Financial Group Inc. raised its position in Daktronics by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 299,980 shares of the technology company’s stock worth $2,643,000 after buying an additional 8,342 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new position in Daktronics in the 2nd quarter worth about $700,000. Wedge Capital Management L L P NC raised its position in Daktronics by 24.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 39,868 shares of the technology company’s stock worth $339,000 after buying an additional 7,926 shares during the last quarter. Strs Ohio raised its position in Daktronics by 25.4% in the 2nd quarter. Strs Ohio now owns 86,000 shares of the technology company’s stock worth $731,000 after buying an additional 17,400 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Daktronics by 8.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 205,985 shares of the technology company’s stock worth $1,753,000 after buying an additional 16,483 shares during the last quarter. 58.79% of the stock is owned by institutional investors and hedge funds.

DAKT opened at $8.25 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.99 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $375.03 million, a PE ratio of 52.25 and a beta of 0.95. Daktronics has a 1 year low of $7.14 and a 1 year high of $10.11.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, November 21st. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $172.70 million during the quarter, compared to analyst estimates of $170.01 million. Daktronics had a return on equity of 3.71% and a net margin of 0.53%. Daktronics’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Monday, December 10th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Friday, December 7th.

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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