Piper Jaffray Companies Reaffirms “Hold” Rating for Raven Industries, Inc. (RAVN)
Piper Jaffray Companies reaffirmed their hold rating on shares of Raven Industries, Inc. (NASDAQ:RAVN) in a research note published on Sunday morning. They currently have a $31.00 price objective on the conglomerate’s stock.
Other research analysts have also issued reports about the stock. Dougherty & Co reissued a buy rating on shares of Raven Industries in a report on Friday, August 18th. BidaskClub lowered shares of Raven Industries from a buy rating to a hold rating in a report on Monday, July 31st. Finally, SunTrust Banks, Inc. began coverage on shares of Raven Industries in a report on Friday, August 18th. They set a hold rating and a $36.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Raven Industries has a consensus rating of Hold and an average target price of $33.50.
Shares of Raven Industries (NASDAQ RAVN) opened at 32.90 on Friday. The stock’s 50 day moving average is $30.47 and its 200 day moving average is $32.05. The stock has a market capitalization of $1.19 billion, a PE ratio of 39.12 and a beta of 1.46. Raven Industries has a 52-week low of $20.21 and a 52-week high of $37.40.
Raven Industries (NASDAQ:RAVN) last announced its quarterly earnings data on Wednesday, August 23rd. The conglomerate reported $0.23 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The company had revenue of $86.61 million during the quarter, compared to analyst estimates of $81.48 million. Raven Industries had a net margin of 9.57% and a return on equity of 11.67%. Equities research analysts expect that Raven Industries will post $0.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be given a $0.13 dividend. The ex-dividend date is Thursday, October 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.58%. Raven Industries’s payout ratio is currently 61.18%.
In other Raven Industries news, Director Marc E. Lebaron purchased 1,457 shares of Raven Industries stock in a transaction dated Monday, August 28th. The shares were bought at an average cost of $27.55 per share, for a total transaction of $40,140.35. Following the transaction, the director now owns 3,457 shares in the company, valued at approximately $95,240.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its position 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 buying an additional 257 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of Raven Industries in the 2nd quarter worth about $111,000. Quantbot Technologies LP lifted its position 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 buying an additional 1,806 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Raven Industries in the 1st quarter worth about $111,000. Finally, Nordea Investment Management AB bought a new position in shares of Raven Industries in the 1st quarter worth about $166,000. Institutional investors own 73.05% of the company’s stock.
About Raven Industries
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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