Raven Industries’s “Neutral” Rating Reaffirmed at Zacks (RAVN)
Raven Industries (NASDAQ:RAVN)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Friday, Stock Ratings Network reports. They currently have a $34.00 target price on the stock. Zacks‘ price target would suggest a potential upside of 4.97% from the company’s current price.
Zacks‘ analyst wrote, “Raven’s second-quarter fiscal 2014 earnings came in at $0.23 per share, down 28% year over year. Total revenue decreased 8% year over year to $93.4 million, reflecting the current constraints on federal spending. Raven expects to return to the historic earnings growth levels in fiscal 2014, driven by acquisitions. In addition, the company remains optimistic on OEM demand, which will recover in the future. However, margins will be under pressure due to Raven’s investments in new initiatives and product development. The Aerostar segment will continue to face government uncertainty and sluggish demand. Moreover, falling commodity prices and lower manufacturing efficiencies remain headwinds in the upcoming quarters. We maintain our Neutral recommendation on Raven Industries with a target price of $34.”
Separately, analysts at Sidoti initiated coverage on shares of Raven Industries (NASDAQ:RAVN) in a research note to investors on Friday, August 30th. They set a “buy” rating on the stock.
Shares of Raven Industries (NASDAQ:RAVN) traded up 1.82% during mid-day trading on Friday, hitting $32.98. The stock had a trading volume of 29,774 shares. Raven Industries has a one year low of $23.01 and a one year high of $35.68. The stock’s 50-day moving average is $30.79 and its 200-day moving average is $31.22. The company has a market cap of $1.200 billion and a P/E ratio of 26.77.
Raven Industries (NASDAQ:RAVN) last released its earnings data on Monday, August 19th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by $0.04. The company had revenue of $93.40 million for the quarter, compared to the consensus estimate of $90.66 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. Analysts expect that Raven Industries will post $1.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, October 8th.
In other Raven Industries news, CEO Daniel A. Rykhus unloaded 2,344 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $32.45, for a total value of $76,062.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Raven Industries, Inc is an industrial manufacturer providing a variety of products. The Company markets its products worldwide and has its principal operations in the United States of America.
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