Raven Industries (RAVN) Downgraded to “Neutral” at Dougherty & Co

Dougherty & Co cut shares of Raven Industries (NASDAQ:RAVN) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning.

A number of other equities research analysts have also recently issued reports on the stock. Piper Jaffray Companies set a $31.00 price target on shares of Raven Industries and gave the company a hold rating in a report on Friday, August 25th. BidaskClub cut shares of Raven Industries from a hold rating to a sell rating in a report on Tuesday, August 22nd. Finally, SunTrust Banks started coverage on shares of Raven Industries in a report on Friday, August 18th. They set a hold rating and a $36.00 price target for the company. Four investment analysts have rated the stock with a hold rating, The stock presently has an average rating of Hold and a consensus price target of $33.50.

Raven Industries (RAVN) traded down $2.65 during trading on Tuesday, reaching $34.10. 188,000 shares of the company’s stock traded hands, compared to its average volume of 157,731. The firm has a market capitalization of $1,314.02, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 3.85 and a beta of 1.48. Raven Industries has a 52-week low of $23.65 and a 52-week high of $38.35.

Raven Industries (NASDAQ:RAVN) last posted its earnings results on Monday, November 20th. The conglomerate reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.10. Raven Industries had a net margin of 10.56% and a return on equity of 13.88%. The firm had revenue of $101.35 million for the quarter, compared to the consensus estimate of $84.54 million. equities analysts expect that Raven Industries will post 0.95 earnings per share for the current fiscal year.

Raven Industries announced that its board has initiated a share buyback plan on Monday, December 4th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the conglomerate to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, January 11th. Raven Industries’s dividend payout ratio (DPR) is 50.98%.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Raven Industries by 3.9% during the second quarter. BlackRock Inc. now owns 4,607,096 shares of the conglomerate’s stock valued at $153,418,000 after acquiring an additional 173,123 shares during the period. Vanguard Group Inc. lifted its stake in shares of Raven Industries by 2.1% in the second quarter. Vanguard Group Inc. now owns 3,253,939 shares of the conglomerate’s stock valued at $108,356,000 after buying an additional 66,558 shares during the period. State Street Corp lifted its stake in shares of Raven Industries by 6.2% in the second quarter. State Street Corp now owns 879,504 shares of the conglomerate’s stock valued at $29,288,000 after buying an additional 51,451 shares during the period. Vident Investment Advisory LLC lifted its stake in shares of Raven Industries by 97.9% in the third quarter. Vident Investment Advisory LLC now owns 778,211 shares of the conglomerate’s stock valued at $25,214,000 after buying an additional 385,032 shares during the period. Finally, Thrivent Financial For Lutherans lifted its stake in shares of Raven Industries by 0.3% in the second quarter. Thrivent Financial For Lutherans now owns 466,850 shares of the conglomerate’s stock valued at $15,546,000 after buying an additional 1,370 shares during the period. Institutional investors own 74.10% of the company’s stock.

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About Raven Industries

Raven Industries, Inc is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar).

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