Raven Industries (NASDAQ:RAVN) Hits New 12-Month High at $38.59

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Raven Industries, Inc. (NASDAQ:RAVN)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $38.59 and last traded at $38.36, with a volume of 1471 shares trading hands. The stock had previously closed at $37.45.

RAVN has been the topic of several research analyst reports. National Securities reiterated a “buy” rating and issued a $35.00 price objective on shares of Raven Industries in a report on Monday, October 26th. Zacks Investment Research raised shares of Raven Industries from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Friday, December 18th.

The stock has a market capitalization of $1.39 billion, a PE ratio of 58.52, a PEG ratio of 2.98 and a beta of 1.44. The firm’s fifty day moving average is $31.97 and its 200-day moving average is $25.29.

Raven Industries (NASDAQ:RAVN) last released its quarterly earnings results on Monday, November 23rd. The conglomerate reported $0.24 EPS for the quarter, beating the consensus estimate of $0.12 by $0.12. Raven Industries had a net margin of 6.45% and a return on equity of 9.96%. The business had revenue of $96.61 million for the quarter, compared to analyst estimates of $87.50 million. On average, equities research analysts predict that Raven Industries, Inc. will post 0.8 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. First PREMIER Bank raised its stake in Raven Industries by 22.3% during the 4th quarter. First PREMIER Bank now owns 16,468 shares of the conglomerate’s stock valued at $545,000 after purchasing an additional 3,000 shares during the last quarter. Strs Ohio lifted its position in Raven Industries by 126.9% during the 3rd quarter. Strs Ohio now owns 11,800 shares of the conglomerate’s stock valued at $253,000 after purchasing an additional 6,600 shares during the period. Cubist Systematic Strategies LLC lifted its position in Raven Industries by 364.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 52,277 shares of the conglomerate’s stock valued at $1,125,000 after purchasing an additional 41,025 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Raven Industries in the 3rd quarter valued at approximately $239,000. Finally, Boothbay Fund Management LLC bought a new stake in Raven Industries during the 3rd quarter worth approximately $699,000. Hedge funds and other institutional investors own 76.29% of the company’s stock.

About Raven Industries (NASDAQ:RAVN)

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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