Daktronics (DAKT) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Daktronics (NASDAQ:DAKT) from a hold rating to a sell rating in a research note released 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. “

Other equities research analysts have also recently issued reports about the stock. TheStreet upgraded shares of Daktronics from a c+ rating to a b- rating in a research report on Wednesday, September 27th. BidaskClub upgraded shares of Daktronics from a sell rating to a hold rating in a research report on Friday, August 18th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. Daktronics currently has an average rating of Hold and an average price target of $11.83.

Daktronics (DAKT) traded down $0.01 during mid-day trading on Tuesday, hitting $9.32. 135,300 shares of the stock traded hands, compared to its average volume of 140,122. The company has a market capitalization of $414.94, a P/E ratio of 37.32 and a beta of 1.22. Daktronics has a 12-month low of $7.84 and a 12-month high of $11.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.53.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 11th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, December 8th. Daktronics’s dividend payout ratio is currently 112.00%.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its position in Daktronics by 0.5% in the second quarter. UBS Asset Management Americas Inc. now owns 12,084 shares of the technology company’s stock worth $116,000 after acquiring an additional 64 shares during the period. Texas Permanent School Fund raised its position in Daktronics by 0.8% in the second quarter. Texas Permanent School Fund now owns 29,279 shares of the technology company’s stock worth $282,000 after acquiring an additional 245 shares during the period. Aperio Group LLC raised its position in Daktronics by 3.6% in the second quarter. Aperio Group LLC now owns 14,850 shares of the technology company’s stock worth $143,000 after acquiring an additional 512 shares during the period. Wells Fargo & Company MN raised its position in Daktronics by 2.2% in the second quarter. Wells Fargo & Company MN now owns 28,495 shares of the technology company’s stock worth $275,000 after acquiring an additional 620 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Daktronics by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 148,989 shares of the technology company’s stock worth $1,435,000 after acquiring an additional 912 shares during the period. 53.86% of the stock is currently owned by institutional investors.

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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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