Dougherty & Co Downgrades Raven Industries (RAVN) to Neutral

Raven Industries (NASDAQ:RAVN) was downgraded by research analysts at Dougherty & Co from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday.

Other equities analysts also recently issued research reports about the stock. Piper Jaffray Companies set a $31.00 price objective on shares of Raven Industries and gave the stock a “hold” rating in a report on Friday, August 25th. SunTrust Banks assumed coverage on shares of Raven Industries in a report on Friday, August 18th. They issued a “hold” rating and a $36.00 price objective on the stock. Finally, BidaskClub downgraded shares of Raven Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Four research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average target price of $33.50.

Raven Industries (NASDAQ RAVN) opened at $33.70 on Tuesday. The stock has a market cap of $1,219.27, a P/E ratio of 33.43, a P/E/G ratio of 3.58 and a beta of 1.48. Raven Industries has a 1-year low of $23.65 and a 1-year high of $38.35.

Raven Industries (NASDAQ:RAVN) last posted its quarterly earnings data on Monday, November 20th. The conglomerate reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. The company had revenue of $101.35 million for the quarter, compared to the consensus estimate of $84.54 million. Raven Industries had a net margin of 10.56% and a return on equity of 13.88%. analysts anticipate that Raven Industries will post 0.95 earnings per share for the current fiscal year.

Raven Industries announced that its board has approved a share repurchase program on Monday, December 4th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the conglomerate to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RAVN. Russell Investments Group Ltd. bought a new stake in Raven Industries during the 3rd quarter worth approximately $100,000. Ameritas Investment Partners Inc. raised its stake in Raven Industries by 8.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,174 shares of the conglomerate’s stock worth $106,000 after acquiring an additional 257 shares during the period. Schroder Investment Management Group bought a new stake 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% during 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 last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Raven Industries by 1,450.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 3,690 shares of the conglomerate’s stock valued at $120,000 after buying an additional 3,452 shares during the last quarter. Institutional investors own 74.10% of the company’s stock.

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Raven Industries Company Profile

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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