Raven Industries (NASDAQ:RAVN) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

RAVN has been the subject of a number of other reports. Dougherty & Co lowered shares of Raven Industries from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 5th. SunTrust Banks started coverage on shares of Raven Industries in a research note on Friday, August 18th. They set a “hold” rating and a $36.00 target price for the company. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $31.00 target price on shares of Raven Industries in a research note on Sunday, October 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Raven Industries has an average rating of “Hold” and an average target price of $35.00.

Raven Industries (RAVN) traded down $0.10 during mid-day trading on Wednesday, reaching $33.85. The company had a trading volume of 117,204 shares, compared to its average volume of 136,742. The company has a market cap of $1,210.34, a PE ratio of 33.19, a PEG ratio of 3.32 and a beta of 1.48. Raven Industries has a fifty-two week low of $23.65 and a fifty-two week high of $38.35.

Raven Industries (NASDAQ:RAVN) last released its quarterly earnings data on Monday, November 20th. The conglomerate reported $0.33 earnings per share (EPS) for the quarter, beating the 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 return on equity of 13.88% and a net margin of 10.56%. research analysts forecast that Raven Industries will post 1.02 EPS for the current fiscal year.

Raven Industries announced that its Board of Directors has authorized a share repurchase plan on Monday, December 4th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the conglomerate to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new stake in shares of Raven Industries in the 3rd quarter worth $100,000. Ameritas Investment Partners Inc. increased its stake in shares of 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 stake in shares of Raven Industries in the 2nd quarter worth $111,000. Quantbot Technologies LP increased its stake in shares of 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 shares of 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. Institutional investors and hedge funds 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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