Daktronics (NASDAQ:DAKT) Upgraded to “Strong-Buy” at Roth Mkm

Roth Mkm upgraded shares of Daktronics (NASDAQ:DAKT) to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other research analysts have also commented on DAKT. Zacks Research lowered Daktronics from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Wall Street Zen upgraded Daktronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings lowered Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.00.

Daktronics Price Performance

Shares of DAKT opened at $20.91 on Wednesday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 0.53 and a beta of 1.66. The stock has a 50 day moving average of $19.76 and a 200-day moving average of $20.96. The company has a current ratio of 2.22, a quick ratio of 1.68 and a debt-to-equity ratio of 0.19. Daktronics has a 52 week low of $13.30 and a 52 week high of $28.27.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAKT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Daktronics by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company’s stock valued at $295,000 after purchasing an additional 1,476 shares during the period. Empowered Funds LLC boosted its position in Daktronics by 2.1% during the 1st quarter. Empowered Funds LLC now owns 242,535 shares of the technology company’s stock valued at $2,954,000 after purchasing an additional 4,926 shares during the period. Rhumbline Advisers boosted its position in Daktronics by 31.4% during the 2nd quarter. Rhumbline Advisers now owns 76,152 shares of the technology company’s stock valued at $1,151,000 after purchasing an additional 18,202 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Daktronics by 204.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after purchasing an additional 2,045 shares during the period. Finally, Invesco Ltd. boosted its position in Daktronics by 399.2% during the 2nd quarter. Invesco Ltd. now owns 510,243 shares of the technology company’s stock valued at $7,715,000 after purchasing an additional 408,037 shares during the period. Institutional investors and hedge funds own 61.69% of the company’s stock.

About Daktronics

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.