Raven Industries (RAVN) Cut to Hold at BidaskClub

BidaskClub lowered shares of Raven Industries (NASDAQ:RAVN) from a buy rating to a hold rating in a research note published on Wednesday.

Several other brokerages have also recently issued reports on RAVN. Zacks Investment Research cut Raven Industries from a strong-buy rating to a hold rating in a research report on Tuesday, July 24th. ValuEngine raised Raven Industries from a hold rating to a buy rating in a research report on Thursday, August 23rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $39.67.

NASDAQ RAVN opened at $40.07 on Wednesday. Raven Industries has a one year low of $31.45 and a one year high of $49.80. The stock has a market capitalization of $1.44 billion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 2.52 and a beta of 1.54.

Raven Industries (NASDAQ:RAVN) last announced its earnings results on Wednesday, August 22nd. The conglomerate reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $102.68 million for the quarter. Raven Industries had a return on equity of 18.75% and a net margin of 13.69%. On average, analysts predict that Raven Industries will post 1.59 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 12th were given a $0.13 dividend. The ex-dividend date was Thursday, October 11th. This represents a $0.52 annualized dividend and a yield of 1.30%. Raven Industries’s payout ratio is 45.61%.

A number of large investors have recently made changes to their positions in RAVN. Principal Financial Group Inc. boosted its position in Raven Industries by 2.7% in the first quarter. Principal Financial Group Inc. now owns 283,708 shares of the conglomerate’s stock worth $9,944,000 after purchasing an additional 7,399 shares during the last quarter. Amalgamated Bank purchased a new position in shares of Raven Industries during the 2nd quarter valued at about $225,000. Alps Advisors Inc. lifted its position in shares of Raven Industries by 27.6% during the 2nd quarter. Alps Advisors Inc. now owns 16,002 shares of the conglomerate’s stock valued at $550,000 after buying an additional 3,466 shares in the last quarter. Kaizen Advisory LLC lifted its position in shares of Raven Industries by 300.7% during the 2nd quarter. Kaizen Advisory LLC now owns 31,598 shares of the conglomerate’s stock valued at $1,215,000 after buying an additional 23,713 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its position in shares of Raven Industries by 441.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,250 shares of the conglomerate’s stock valued at $125,000 after buying an additional 2,650 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

About Raven Industries

Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geomembrane, construction, and aerospace/defense markets worldwide. The company operates in three segments: Applied Technology, Engineered Films, and Aerostar. The Applied Technology segment designs, manufactures, sells, and services precision agriculture products and information management tools that enable growers to enhance farm yields.

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