Raven Industries (NASDAQ:RAVN) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Raven Industries (NASDAQ:RAVN) from a sell rating to a hold rating in a report released on Monday morning, BidAskClub reports.

Separately, Sidoti began coverage on shares of Raven Industries in a research report on Thursday, May 30th. They set a neutral rating for the company.

Shares of NASDAQ RAVN opened at $34.40 on Monday. Raven Industries has a 52 week low of $27.32 and a 52 week high of $48.70. The firm has a 50-day moving average price of $32.24 and a 200 day moving average price of $35.58. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 23.24 and a beta of 1.44.

Raven Industries (NASDAQ:RAVN) last announced its quarterly earnings data on Thursday, August 22nd. The conglomerate reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.10). The company had revenue of $98.06 million during the quarter. Raven Industries had a net margin of 9.76% and a return on equity of 12.51%.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, October 10th. Raven Industries’s payout ratio is currently 35.14%.

A number of institutional investors and hedge funds have recently made changes to their positions in RAVN. Geode Capital Management LLC raised its position in Raven Industries by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 412,993 shares of the conglomerate’s stock worth $14,946,000 after acquiring an additional 35,394 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Raven Industries by 779.5% during the first quarter. BNP Paribas Arbitrage SA now owns 8,285 shares of the conglomerate’s stock worth $318,000 after acquiring an additional 7,343 shares during the last quarter. SG Americas Securities LLC raised its position in Raven Industries by 329.3% during the first quarter. SG Americas Securities LLC now owns 13,584 shares of the conglomerate’s stock worth $521,000 after acquiring an additional 10,420 shares during the last quarter. Rhumbline Advisers raised its position in Raven Industries by 0.3% during the first quarter. Rhumbline Advisers now owns 102,628 shares of the conglomerate’s stock worth $3,938,000 after acquiring an additional 344 shares during the last quarter. Finally, Comerica Bank raised its position in Raven Industries by 1.7% during the first quarter. Comerica Bank now owns 35,521 shares of the conglomerate’s stock worth $1,376,000 after acquiring an additional 579 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Raven Industries Company Profile

Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geomembrane, construction, commercial lighter-than-air, and aerospace and defense markets worldwide. It operates through three segments: Applied Technology, Engineered Films, and Aerostar.

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