Zacks Investment Research Downgrades Daktronics (DAKT) to Sell

Zacks Investment Research lowered shares of Daktronics (NASDAQ:DAKT) from a hold rating to a sell rating in a report issued on Tuesday morning.

According to Zacks, “Daktronics Inc. has strong leadership positions in, and is one of the world’s largest suppliers of, electronic scoreboards, computer-programmable displays, and large screen video displays and control systems. The company excels in the control of large display systems, including those that require integration of multiple complex displays showing real-time information, graphics, animation and video. Daktronics designs, manufactures, markets and services display systems for customers around the world in sport, business and transportation applications. “

DAKT has been the topic of several other reports. BidaskClub downgraded Daktronics from a hold rating to a sell rating in a report on Saturday, August 12th. TheStreet upgraded Daktronics from a c+ rating to a b- rating in a report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $11.83.

Shares of Daktronics (NASDAQ:DAKT) traded down $0.09 during midday trading on Tuesday, hitting $9.04. The stock had a trading volume of 122,420 shares, compared to its average volume of 113,065. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.53 and a current ratio of 2.04. Daktronics has a 12-month low of $7.84 and a 12-month high of $11.12. The stock has a market capitalization of $409.16, a P/E ratio of 36.80 and a beta of 1.22.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings data on Tuesday, November 21st. The technology company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $172.55 million. Daktronics had a return on equity of 5.56% and a net margin of 1.89%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. research analysts expect that Daktronics will post 0.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 11th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, December 8th. This represents a $0.28 annualized dividend and a yield of 3.10%. Daktronics’s payout ratio is currently 112.00%.

In other Daktronics news, Director John L. Mulligan sold 37,307 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $13.20, for a total transaction of $492,452.40. Following the sale, the director now owns 67,182 shares of the company’s stock, valued at approximately $886,802.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carla S. Gatzke sold 2,996 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $10.27, for a total value of $30,768.92. Following the sale, the insider now directly owns 435,063 shares in the company, valued at approximately $4,468,097.01. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Daktronics during the 3rd quarter valued at $246,000. GSA Capital Partners LLP boosted its position in Daktronics by 72.0% during the 3rd quarter. GSA Capital Partners LLP now owns 67,605 shares of the technology company’s stock valued at $715,000 after acquiring an additional 28,300 shares in the last quarter. Algert Global LLC bought a new stake in Daktronics during the 3rd quarter valued at $805,000. Jane Street Group LLC bought a new stake in Daktronics during the 3rd quarter valued at $130,000. Finally, OxFORD Asset Management LLP boosted its position in Daktronics by 153.2% during the 3rd quarter. OxFORD Asset Management LLP now owns 50,206 shares of the technology company’s stock valued at $531,000 after acquiring an additional 30,380 shares in the last quarter. 53.86% of the stock is currently owned by institutional investors and hedge funds.

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About Daktronics

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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