Raven Industries, Inc. (NASDAQ:RAVN) Rating Lowered to Buy at BidaskClub
Raven Industries, Inc. (NASDAQ:RAVN) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Sunday.
Raven Industries (NASDAQ RAVN) traded down 0.57% during mid-day trading on Friday, hitting $34.65. 143,971 shares of the company were exchanged. Raven Industries has a 12-month low of $18.81 and a 12-month high of $37.40. The stock has a market cap of $1.25 billion, a P/E ratio of 46.39 and a beta of 1.35. The company has a 50 day moving average of $33.96 and a 200 day moving average of $29.27.
Raven Industries (NASDAQ:RAVN) last released its earnings results on Monday, May 22nd. The conglomerate reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.10. Raven Industries had a net margin of 8.85% and a return on equity of 10.32%. The company had revenue of $93.54 million for the quarter. On average, equities research analysts expect that Raven Industries will post $0.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Friday, July 7th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.50%. Raven Industries’s payout ratio is presently 70.27%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RAVN. Victory Capital Management Inc. acquired a new position in Raven Industries during the first quarter worth about $111,000. State of Alaska Department of Revenue increased its position in Raven Industries by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 3,980 shares of the conglomerate’s stock worth $115,000 after buying an additional 70 shares during the last quarter. Nordea Investment Management AB acquired a new position in Raven Industries during the first quarter worth about $166,000. Capstone Asset Management Co. acquired a new position in Raven Industries during the second quarter worth about $201,000. Finally, Marshwinds Advisory Co. acquired a new position in Raven Industries during the first quarter worth about $221,000. Institutional investors own 73.46% of the company’s stock.
Raven Industries Company Profile
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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