Raven Industries (NASDAQ:RAVN) Stock Rating Lowered by Zacks Investment Research

Raven Industries (NASDAQ:RAVN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

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 . “

Several other analysts also recently issued reports on the stock. BidaskClub raised shares of Raven Industries from a “sell” rating to a “hold” rating in a research report on Thursday, October 15th. National Securities reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Raven Industries in a research report on Monday, October 26th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $30.33.

NASDAQ RAVN opened at $27.24 on Wednesday. Raven Industries has a one year low of $16.01 and a one year high of $36.14. The company’s 50 day moving average price is $23.91 and its 200 day moving average price is $22.84. The firm has a market capitalization of $976.66 million, a price-to-earnings ratio of 42.56, a PEG ratio of 2.98 and a beta of 1.44.

Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings results on Monday, November 23rd. The conglomerate reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.12. Raven Industries had a net margin of 6.45% and a return on equity of 9.96%. The firm had revenue of $96.61 million for the quarter, compared to analyst estimates of $87.50 million. As a group, sell-side analysts anticipate that Raven Industries will post 0.8 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. State of Tennessee Treasury Department grew its position in shares of Raven Industries by 1.6% during the second quarter. State of Tennessee Treasury Department now owns 26,748 shares of the conglomerate’s stock worth $575,000 after buying an additional 426 shares in the last quarter. American International Group Inc. grew its position in shares of Raven Industries by 2.3% during the second quarter. American International Group Inc. now owns 25,233 shares of the conglomerate’s stock worth $543,000 after buying an additional 569 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Raven Industries by 0.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 126,988 shares of the conglomerate’s stock worth $2,733,000 after buying an additional 725 shares in the last quarter. Diversified Investment Strategies LLC grew its position in shares of Raven Industries by 0.6% during the third quarter. Diversified Investment Strategies LLC now owns 130,875 shares of the conglomerate’s stock worth $2,816,000 after buying an additional 800 shares in the last quarter. Finally, CWM Advisors LLC grew its position in shares of Raven Industries by 9.9% during the second quarter. CWM Advisors LLC now owns 9,548 shares of the conglomerate’s stock worth $205,000 after buying an additional 858 shares in the last quarter. 76.29% of the stock is owned by institutional investors and hedge funds.

About Raven Industries

Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geo-membrane, construction, aerospace/defense, and commercial lighter-than-air markets worldwide. It operates in three segments: Applied Technology, Engineered Films, and Aerostar. The Applied Technology segment designs, manufactures, sells, and services precision agriculture products and information management tools that enable farmers to enhance farm yields.

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