Research Analysts Issue Forecasts for Raven Industries, Inc.’s Q3 2018 Earnings (RAVN)
Raven Industries, Inc. (NASDAQ:RAVN) – Research analysts at Dougherty & Co issued their Q3 2018 EPS estimates for Raven Industries in a report issued on Monday. Dougherty & Co analyst J. Fisher anticipates that the conglomerate will earn $0.23 per share for the quarter. Dougherty & Co currently has a “Buy” rating on the stock. Dougherty & Co also issued estimates for Raven Industries’ FY2018 earnings at $0.99 EPS.
Raven Industries (NASDAQ:RAVN) last announced its quarterly earnings data on Wednesday, August 23rd. The conglomerate reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $86.61 million for the quarter, compared to analysts’ expectations of $81.48 million. Raven Industries had a return on equity of 11.67% and a net margin of 9.57%.
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Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Raven Industries from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. SunTrust Banks, Inc. started coverage on shares of Raven Industries in a research note on Friday, August 18th. They set a “hold” rating and a $36.00 price target on the stock. Finally, Piper Jaffray Companies set a $33.00 price target on shares of Raven Industries and gave the stock a “hold” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $30.67.
Shares of Raven Industries (NASDAQ:RAVN) traded up 4.30% during mid-day trading on Tuesday, hitting $27.90. The stock had a trading volume of 90,997 shares. The stock has a market cap of $1.01 billion, a P/E ratio of 33.17 and a beta of 1.36. Raven Industries has a 12-month low of $20.21 and a 12-month high of $37.40. The company’s 50 day moving average price is $33.84 and its 200 day moving average price is $31.73.
Several hedge funds and other institutional investors have recently made changes to their positions in RAVN. Ameritas Investment Partners Inc. raised its position in shares of Raven Industries by 8.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock valued at $106,000 after buying an additional 257 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Raven Industries during the first quarter valued at approximately $111,000. Schroder Investment Management Group acquired a new position in shares of Raven Industries during the second quarter valued at approximately $111,000. Quantbot Technologies LP raised its position in shares of Raven Industries by 115.9% in the second quarter. Quantbot Technologies LP now owns 3,364 shares of the conglomerate’s stock valued at $112,000 after buying an additional 1,806 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Raven Industries by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 3,980 shares of the conglomerate’s stock valued at $115,000 after buying an additional 70 shares during the period. Institutional investors own 73.08% of the company’s stock.
In other Raven Industries news, Director Marc E. Lebaron purchased 1,457 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were bought at an average price of $27.55 per share, for a total transaction of $40,140.35. Following the purchase, the director now directly owns 3,457 shares in the company, valued at approximately $95,240.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% 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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