A number of other brokerages have also weighed in on RAVN. Oppenheimer assumed coverage on Raven Industries in a research report on Thursday, June 18th. They set an outperform rating and a $27.00 target price on the stock. National Securities reiterated a buy rating and set a $30.00 price target on shares of Raven Industries in a report on Thursday, August 27th.
NASDAQ:RAVN opened at $24.31 on Thursday. The stock has a market cap of $871.39 million, a P/E ratio of 37.98, a price-to-earnings-growth ratio of 3.05 and a beta of 1.42. The stock’s 50-day moving average is $23.53 and its 200-day moving average is $22.14. Raven Industries has a 1-year low of $16.01 and a 1-year high of $38.00.
In related news, Director Marc E. Lebaron purchased 4,368 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was acquired at an average price of $25.18 per share, for a total transaction of $109,986.24. Following the completion of the acquisition, the director now owns 11,151 shares of the company’s stock, valued at approximately $280,782.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in RAVN. Morgan Stanley grew its holdings in Raven Industries by 74.2% during the first quarter. Morgan Stanley now owns 778,405 shares of the conglomerate’s stock worth $16,526,000 after buying an additional 331,458 shares in the last quarter. Vident Investment Advisory LLC grew its stake in Raven Industries by 47.6% in the 2nd quarter. Vident Investment Advisory LLC now owns 542,944 shares of the conglomerate’s stock valued at $11,679,000 after purchasing an additional 175,166 shares during the period. Thrivent Financial for Lutherans grew its stake in Raven Industries by 17.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,084,907 shares of the conglomerate’s stock valued at $23,336,000 after purchasing an additional 163,669 shares during the period. UBS Group AG grew its stake in Raven Industries by 171.7% in the 2nd quarter. UBS Group AG now owns 208,772 shares of the conglomerate’s stock valued at $4,491,000 after purchasing an additional 131,940 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in Raven Industries in the 2nd quarter valued at $2,130,000. Institutional investors and hedge funds own 76.29% of the company’s stock.
Raven Industries Company Profile
Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geo-membrane, construction, aerospace/defense, and commercial lighter-than-air markets worldwide. It 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 farmers to enhance farm yields.
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