BidaskClub Downgrades Raven Industries (NASDAQ:RAVN) to Strong Sell

Raven Industries (NASDAQ:RAVN) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday, BidAskClub reports.

Separately, Sidoti started coverage on Raven Industries in a research note on Thursday, May 30th. They issued a “neutral” rating for the company.

Shares of RAVN stock opened at $35.98 on Friday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 29.25 and a beta of 1.38. The stock has a fifty day moving average price of $34.85. Raven Industries has a 1 year low of $32.40 and a 1 year high of $49.80.

Raven Industries (NASDAQ:RAVN) last issued its earnings results on Monday, May 20th. The conglomerate reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.08). The firm had revenue of $98.18 million during the quarter. Raven Industries had a return on equity of 14.46% and a net margin of 10.89%.

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC purchased a new position in Raven Industries in the 1st quarter worth $29,000. PNC Financial Services Group Inc. raised its stake in shares of Raven Industries by 34.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,200 shares of the conglomerate’s stock valued at $43,000 after buying an additional 308 shares during the last quarter. Investors Research Corp purchased a new position in shares of Raven Industries during the 1st quarter valued at about $77,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Raven Industries during the 1st quarter valued at about $115,000. Finally, Savant Capital LLC purchased a new position in shares of Raven Industries during the 1st quarter valued at about $201,000. Institutional investors own 74.71% of the company’s stock.

Raven Industries Company Profile

Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geomembrane, construction, commercial lighter-than-air, and aerospace and defense markets worldwide. It operates through three segments: Applied Technology, Engineered Films, and Aerostar.

Featured Story: Why Net Income is Important to Investors

Receive News & Ratings for Raven Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raven Industries and related companies with MarketBeat.com's FREE daily email newsletter.