Raven Industries (NASDAQ:RAVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The brokerage currently has a $51.00 price objective on the conglomerate’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 14.32% from the company’s previous close.
According to Zacks, “Raven Industries, Inc. ( RAVN ) is a technology company that creates innovative solutions to great challenges. Raven is a leader in precision agriculture, high performance specialty films, and situational awareness markets thereby utilizing its strength in engineering, manufacturing, and technological innovation. Raven is comprised of three distinct business units : Raven Applied Technology, Raven Engineered Films, and Raven Aerostar. Raven is committed to being an active and responsible corporate citizen by providing strategic investments to organizations who align with business model and purpose. And the areas of focus include: quality of life, education, social need, and health/wellbeing. The company’s corporate responsibility framework is constructed from five key areas of impact, which includes: Environmental Sustainability, Corporate Philanthropy, Volunteerism, Team Member Development and Training, Business Purpose, Products and Services Delivered, and Markets Served . “
A number of other research analysts have also commented on the stock. Lake Street Capital upped their price objective on shares of Raven Industries from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, May 18th. TheStreet lowered shares of Raven Industries from a “b-” rating to a “c” rating in a research report on Monday, March 22nd. Four equities research analysts have rated the stock with a buy rating, Raven Industries has a consensus rating of “Buy” and a consensus price target of $42.00.
RAVN stock opened at $44.61 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.56. Raven Industries has a 52-week low of $19.45 and a 52-week high of $47.43. The company’s 50-day moving average price is $41.33. The company has a market capitalization of $1.60 billion, a PE ratio of 66.58, a price-to-earnings-growth ratio of 2.67 and a beta of 1.53.
Raven Industries (NASDAQ:RAVN) last released its quarterly earnings results on Monday, May 17th. The conglomerate reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.12. Raven Industries had a net margin of 6.53% and a return on equity of 9.37%. On average, equities analysts forecast that Raven Industries will post 0.81 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC acquired a new position in Raven Industries in the first quarter worth about $2,074,000. Voloridge Investment Management LLC raised its position in Raven Industries by 419.9% in the first quarter. Voloridge Investment Management LLC now owns 63,226 shares of the conglomerate’s stock worth $2,423,000 after purchasing an additional 51,065 shares in the last quarter. Eaton Vance Management raised its position in Raven Industries by 1.0% in the first quarter. Eaton Vance Management now owns 50,812 shares of the conglomerate’s stock worth $1,948,000 after purchasing an additional 514 shares in the last quarter. Amundi Asset Management US Inc. acquired a new position in Raven Industries in the first quarter worth about $2,300,000. Finally, Caxton Associates LP acquired a new position in Raven Industries in the first quarter worth about $310,000. 80.92% of the stock is owned by hedge funds and other institutional investors.
About Raven Industries
Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geo-membrane, construction, aerospace and defense, and commercial lighter-than-air markets worldwide. It operates through three segments: Applied Technology, Engineered Films, and Aerostar.
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