Daktronics (NASDAQ:DAKT) Earns Buy Rating from Analysts at Craig Hallum

Research analysts at Craig Hallum started coverage on shares of Daktronics (NASDAQ:DAKT - Get Free Report) in a report issued on Wednesday, Marketbeat.com reports. The brokerage set a "buy" rating and a $26.00 price target on the technology company's stock. Craig Hallum's price objective suggests a potential upside of 47.23% from the company's current price.

Separately, StockNews.com upgraded Daktronics from a "hold" rating to a "buy" rating in a report on Monday, October 14th.

Daktronics Trading Up 4.4 %

NASDAQ:DAKT traded up $0.74 during midday trading on Wednesday, reaching $17.66. 443,152 shares of the stock traded hands, compared to its average volume of 362,604. The stock has a market capitalization of $829.77 million, a P/E ratio of 70.64, a PEG ratio of 0.58 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. The company has a fifty day moving average of $16.56 and a 200 day moving average of $14.73. Daktronics has a 12 month low of $7.20 and a 12 month high of $19.89.

Daktronics (NASDAQ:DAKT - Get Free Report) last released its quarterly earnings data on Wednesday, December 4th. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.09). Daktronics had a return on equity of 19.61% and a net margin of 3.62%. On average, research analysts predict that Daktronics will post 0.96 EPS for the current year.

Insider Activity at Daktronics

In other news, CEO Reece A. Kurtenbach sold 8,048 shares of Daktronics stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $18.75, for a total transaction of $150,900.00. Following the transaction, the chief executive officer now owns 469,727 shares in the company, valued at $8,807,381.25. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Patrick Friel sold 2,244 shares of the company's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total value of $40,773.48. Following the completion of the sale, the director now owns 87,573 shares of the company's stock, valued at $1,591,201.41. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DAKT. Quarry LP raised its stake in Daktronics by 75.6% during the 3rd quarter. Quarry LP now owns 2,297 shares of the technology company's stock worth $30,000 after acquiring an additional 989 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Daktronics by 92.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company's stock worth $32,000 after buying an additional 1,108 shares during the period. Virtus Fund Advisers LLC bought a new position in Daktronics in the 3rd quarter worth $75,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Daktronics in the 3rd quarter worth $164,000. Finally, Hennessy Advisors Inc. bought a new stake in Daktronics during the fourth quarter valued at about $170,000. Institutional investors own 61.69% of the company's stock.

About Daktronics

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.