Raven Industries, Inc. (NASDAQ:RAVN) has earned an average recommendation of “Hold” from the six analysts that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $35.00.
A number of analysts recently weighed in on RAVN shares. BidaskClub lowered shares of Raven Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Zacks Investment Research upgraded shares of Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Friday, December 8th. Piper Jaffray Companies restated a “hold” rating and set a $31.00 target price on shares of Raven Industries in a research note on Sunday, October 1st. Finally, Dougherty & Co lowered shares of Raven Industries from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 5th.
Shares of Raven Industries (NASDAQ:RAVN) traded up $0.40 on Tuesday, hitting $35.40. 84,365 shares of the stock traded hands, compared to its average volume of 127,225. The firm has a market capitalization of $1,222.84, a PE ratio of 34.71, a PEG ratio of 3.35 and a beta of 1.48. Raven Industries has a 1-year low of $23.65 and a 1-year high of $38.35.
Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings results on Monday, November 20th. The conglomerate reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.10. The business had revenue of $101.35 million for the quarter, compared to analysts’ expectations of $84.54 million. Raven Industries had a net margin of 10.56% and a return on equity of 13.88%. sell-side analysts predict that Raven Industries will post 1.02 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $0.52 annualized dividend and a yield of 1.47%. Raven Industries’s dividend payout ratio is currently 50.98%.
Raven Industries declared that its Board of Directors has approved a stock buyback plan on Monday, December 4th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
A number of institutional investors have recently made changes to their positions in RAVN. Russell Investments Group Ltd. purchased a new position in shares of Raven Industries during the third quarter worth approximately $100,000. Ameritas Investment Partners Inc. grew its position in shares of Raven Industries by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock worth $106,000 after acquiring an additional 257 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Raven Industries during the second quarter worth approximately $111,000. Quantbot Technologies LP grew its position in shares of Raven Industries by 115.9% during the second quarter. Quantbot Technologies LP now owns 3,364 shares of the conglomerate’s stock worth $112,000 after acquiring an additional 1,806 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Raven Industries by 1,450.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 3,690 shares of the conglomerate’s stock worth $120,000 after acquiring an additional 3,452 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.
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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