Raven Industries (NASDAQ:RAVN) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.
A number of other analysts have also recently commented on the company. Dougherty & Co upgraded Raven Industries from a “neutral” rating to a “buy” rating and set a $38.00 price objective 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 objective for the company in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $35.75.
Raven Industries stock opened at $38.25 on Friday. The stock has a market cap of $1,361.85, a P/E ratio of 33.55, a P/E/G ratio of 2.59 and a beta of 1.49. Raven Industries has a 52 week low of $26.70 and a 52 week high of $40.85.
Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings data on Tuesday, March 6th. The conglomerate reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.07). The company had revenue of $95.82 million for the quarter, compared to analysts’ expectations of $97.22 million. Raven Industries had a return on equity of 15.29% and a net margin of 10.87%. analysts expect that Raven Industries will post 1.47 earnings per share for the current year.
In related news, Director Rick Parod acquired 3,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was purchased at an average price of $35.92 per share, for a total transaction of $114,944.00. Following the transaction, the director now owns 3,200 shares in the company, valued at approximately $114,944. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of RAVN. Russell Investments Group Ltd. purchased a new stake in Raven Industries during the 3rd quarter worth about $100,000. JPMorgan Chase & Co. grew its holdings in Raven Industries by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 42,650 shares of the conglomerate’s stock valued at $1,356,000 after buying an additional 17,330 shares during the period. Wells Fargo & Company MN grew its holdings in Raven Industries by 31.8% in the 3rd quarter. Wells Fargo & Company MN now owns 49,965 shares of the conglomerate’s stock valued at $1,619,000 after buying an additional 12,065 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Raven Industries by 3.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 252,258 shares of the conglomerate’s stock valued at $8,174,000 after buying an additional 9,504 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in Raven Industries by 106.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 13,972 shares of the conglomerate’s stock valued at $453,000 after buying an additional 7,209 shares during the period. Hedge funds and other institutional investors own 74.97% of the company’s stock.
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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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