Dougherty & Co Lowers Raven Industries (RAVN) to Neutral
Raven Industries (NASDAQ:RAVN) was downgraded by stock analysts at Dougherty & Co from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, The Fly reports.
Other equities research analysts have also recently issued reports about the stock. Piper Jaffray Companies set a $31.00 price objective on shares of Raven Industries and gave the company a “hold” rating in a research note on Friday, August 25th. SunTrust Banks began coverage on shares of Raven Industries in a research note on Friday, August 18th. They set a “hold” rating and a $36.00 price objective on the stock. Finally, BidaskClub cut shares of Raven Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $33.50.
Raven Industries (RAVN) opened at $36.75 on Tuesday. Raven Industries has a 1-year low of $23.65 and a 1-year high of $38.35. The stock has a market cap of $1,344.41, a price-to-earnings ratio of 36.86, a PEG ratio of 3.94 and a beta of 1.48.
Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new stake in Raven Industries in the third quarter worth about $100,000. Ameritas Investment Partners Inc. increased its stake in Raven Industries by 8.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock worth $106,000 after purchasing an additional 257 shares in the last quarter. Schroder Investment Management Group purchased a new position in Raven Industries in the 2nd quarter worth about $111,000. Quantbot Technologies LP increased its stake in Raven Industries by 115.9% in the 2nd quarter. Quantbot Technologies LP now owns 3,364 shares of the conglomerate’s stock worth $112,000 after purchasing an additional 1,806 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Raven Industries by 1,450.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,690 shares of the conglomerate’s stock worth $120,000 after purchasing an additional 3,452 shares in the last quarter. Hedge funds and other institutional investors own 74.10% of the company’s stock.
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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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