Raven Industries, Inc. (RAVN) Cut to “Hold” at BidaskClub

Raven Industries, Inc. (NASDAQ:RAVN) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Monday, July 31st.

Separately, Piper Jaffray Companies set a $33.00 price objective on Raven Industries and gave the company a “hold” rating in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $31.33.

Shares of Raven Industries (NASDAQ RAVN) traded down 5.23% during midday trading on Monday, hitting $31.70. 203,907 shares of the stock were exchanged. The firm has a 50 day moving average of $34.29 and a 200-day moving average of $31.51. Raven Industries has a one year low of $20.21 and a one year high of $37.40. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 42.44 and a beta of 1.36.

Raven Industries (NASDAQ:RAVN) last posted its earnings results on Monday, May 22nd. The conglomerate reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.10. The company had revenue of $93.54 million for the quarter. Raven Industries had a return on equity of 10.32% and a net margin of 8.85%. Equities analysts expect that Raven Industries will post $0.98 EPS for the current year.

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Several hedge funds have recently modified their holdings of the stock. State Street Corp increased its stake in shares of Raven Industries by 7.8% in the fourth quarter. State Street Corp now owns 784,063 shares of the conglomerate’s stock valued at $19,757,000 after buying an additional 56,716 shares in the last quarter. Norges Bank bought a new stake in shares of Raven Industries during the fourth quarter valued at about $13,433,000. Teachers Advisors LLC increased its stake in shares of Raven Industries by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 59,583 shares of the conglomerate’s stock valued at $1,501,000 after buying an additional 1,345 shares in the last quarter. Confluence Investment Management LLC increased its position in Raven Industries by 10.5% in the first quarter. Confluence Investment Management LLC now owns 133,211 shares of the conglomerate’s stock valued at $3,869,000 after buying an additional 12,605 shares during the period. Finally, Marshwinds Advisory Co. acquired a new position in Raven Industries during the first quarter valued at $221,000. Institutional investors and hedge funds own 71.53% 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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