Raven Industries, Inc. (NASDAQ:RAVN) Stock Rating Lowered by BidaskClub
Raven Industries, Inc. (NASDAQ:RAVN) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.
Raven Industries (NASDAQ:RAVN) traded down 0.57% during midday trading on Friday, hitting $34.65. 143,971 shares of the company were exchanged. The firm’s 50-day moving average price is $33.96 and its 200-day moving average price is $29.27. The stock has a market capitalization of $1.25 billion, a PE ratio of 46.39 and a beta of 1.35. Raven Industries has a one year low of $18.81 and a one year high of $37.40.
Raven Industries (NASDAQ:RAVN) last posted its earnings results on Monday, May 22nd. The conglomerate reported $0.34 EPS for the quarter, topping the consensus estimate of $0.24 by $0.10. Raven Industries had a net margin of 8.85% and a return on equity of 10.32%. The business had revenue of $93.54 million for the quarter. Equities research analysts anticipate that Raven Industries will post $0.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Stockholders of record on Friday, July 7th will be given a $0.13 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.50%. Raven Industries’s dividend payout ratio (DPR) is currently 70.27%.
Several hedge funds and other institutional investors have recently modified their holdings of RAVN. BlackRock Inc. increased its position in shares of Raven Industries by 63,965.5% in the first quarter. BlackRock Inc. now owns 4,433,973 shares of the conglomerate’s stock worth $128,808,000 after buying an additional 4,427,052 shares during the period. Vanguard Group Inc. increased its position in shares of Raven Industries by 1.3% in the first quarter. Vanguard Group Inc. now owns 3,187,381 shares of the conglomerate’s stock worth $92,593,000 after buying an additional 40,385 shares during the period. Neuberger Berman Group LLC increased its position in shares of Raven Industries by 6.1% in the first quarter. Neuberger Berman Group LLC now owns 1,966,771 shares of the conglomerate’s stock worth $57,135,000 after buying an additional 112,760 shares during the period. State Street Corp increased its position in shares of Raven Industries by 5.6% in the first quarter. State Street Corp now owns 828,053 shares of the conglomerate’s stock worth $24,054,000 after buying an additional 43,990 shares during the period. Finally, Norges Bank purchased a new position in shares of Raven Industries during the fourth quarter worth about $13,433,000. Hedge funds and other institutional investors own 73.46% 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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