Needham & Company Maintains a 'Hold' on Daktronics (DAKT); Raising Estimates on Strong Start To FY

August 22, 2012 8:34 AM EDT
Get Alerts DAKT Hot Sheet
Price: $10.30 --0%

Rating Summary:
    1 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade DAKT Now!
Join SI Premium – FREE
Needham & Company maintains a 'Hold' on Daktronics (NASDAQ: DAKT).

Analyst, James Ricchiuti, said, "DAKT turned in its strongest quarterlyperformance in nearly two years, posting stronger than expected revenues, margins and sharply higher EPS. The company registered record bookings, with a B-T-B of 1.3:1. Mgmt appears cautiously optimistic that the momentum can continue in FQ2, with revenue and gross margins expected to be above year-ago levels, although gross margins are unlikely to match FQ1, which benefited from a one-time item. While we are encouraged by DAKT’s strong start to the year, particularly with respect to gross margins, op-ex control and bookings, we would look to get more constructive on the stock as our confidence grows that gross margins are on a sustainable upward path. That said, we believe DAKT shares can hold yesterday’s gains, given the positive business tone thus far in the fiscal year."

FY13 EPS Estimate raised from $0.25 to $0.45 and FY14 from $0.38 to $0.55.

For an analyst ratings summary and ratings history on Daktronics click here. For more ratings news on Daktronics click here.

Shares of Daktronics closed at $9.43 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View

Related Entities

Needham & Company

Add Your Comment