Raven Industries (RAVN) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of Raven Industries (NASDAQ:RAVN) from a hold rating to a buy rating in a report released on Saturday.

RAVN has been the subject of a number of other research reports. ValuEngine upgraded Raven Industries from a hold rating to a buy rating in a research report on Monday, May 7th. Dougherty & Co upgraded Raven Industries from a neutral rating to a buy rating and set a $38.00 price target for the company in a research report on Thursday, March 8th. SunTrust Banks upgraded Raven Industries from a hold rating to a buy rating and set a $36.00 price target for the company in a research report on Wednesday, January 31st. Finally, Zacks Investment Research cut Raven Industries from a buy rating to a hold rating in a research report on Tuesday, May 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Raven Industries has a consensus rating of Buy and a consensus price target of $35.75.

Raven Industries opened at $38.15 on Friday, Marketbeat reports. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 2.60 and a beta of 1.48. Raven Industries has a 1 year low of $26.70 and a 1 year high of $42.40.

Raven Industries (NASDAQ:RAVN) last announced its quarterly earnings results on Tuesday, March 6th. The conglomerate reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.07). Raven Industries had a net margin of 12.87% and a return on equity of 17.34%. The firm had revenue of $95.82 million during the quarter, compared to analysts’ expectations of $97.22 million. equities analysts expect that Raven Industries will post 1.47 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 27th. Stockholders of record on Friday, April 13th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, April 12th. Raven Industries’s dividend payout ratio is currently 45.61%.

In other news, Director Rick Parod purchased 3,200 shares of the company’s stock in a transaction dated Wednesday, March 21st. The stock was acquired at an average price of $35.92 per share, for a total transaction of $114,944.00. Following the completion of the transaction, the director now directly owns 3,200 shares in the company, valued at approximately $114,944. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Raven Industries by 82.5% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,649 shares of the conglomerate’s stock valued at $128,000 after acquiring an additional 1,650 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Raven Industries by 61.4% during the first quarter. Russell Investments Group Ltd. now owns 4,357 shares of the conglomerate’s stock valued at $153,000 after acquiring an additional 1,657 shares during the last quarter. Clarus Wealth Advisors acquired a new stake in shares of Raven Industries during the fourth quarter valued at $209,000. Algert Global LLC acquired a new stake in shares of Raven Industries during the first quarter valued at $213,000. Finally, Ellington Management Group LLC acquired a new stake in shares of Raven Industries during the fourth quarter valued at $216,000. 74.48% of the stock is currently owned by institutional investors and hedge funds.

Raven Industries Company Profile

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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