Dougherty & Co upgraded shares of Raven Industries (NASDAQ:RAVN) from a neutral rating to a buy rating in a report released on Thursday, MarketBeat.com reports. They currently have $38.00 price target on the conglomerate’s stock.
Several other brokerages have also commented on RAVN. BidaskClub lowered Raven Industries from a buy rating to a hold rating in a report on Wednesday, December 6th. SunTrust Banks upgraded Raven Industries from a hold rating to a buy rating and set a $36.00 target price on the stock in a research report on Wednesday, January 31st. Finally, Zacks Investment Research upgraded Raven Industries from a hold rating to a buy rating and set a $38.00 target price on the stock in a research report on Friday, December 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Raven Industries currently has an average rating of Buy and an average target price of $35.75.
Shares of Raven Industries (NASDAQ:RAVN) traded up $0.73 on Thursday, hitting $38.20. The company had a trading volume of 145,680 shares, compared to its average volume of 125,051. Raven Industries has a one year low of $26.35 and a one year high of $40.85. The company has a market capitalization of $1,365.88, a price-to-earnings ratio of 33.51, a P/E/G ratio of 3.02 and a beta of 1.63.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 13th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.52 annualized dividend and a yield of 1.36%. Raven Industries’s dividend payout ratio (DPR) is presently 46.02%.
Raven Industries declared that its board has authorized a stock buyback plan on Monday, December 4th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the conglomerate to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capco Asset Management LLC lifted its position in Raven Industries by 1.0% during the third quarter. Capco Asset Management LLC now owns 462,026 shares of the conglomerate’s stock valued at $14,970,000 after purchasing an additional 4,724 shares in the last quarter. State Street Corp lifted its position in shares of Raven Industries by 6.2% in the second quarter. State Street Corp now owns 879,504 shares of the conglomerate’s stock valued at $29,288,000 after acquiring an additional 51,451 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Raven Industries by 10.7% in the third quarter. California Public Employees Retirement System now owns 139,872 shares of the conglomerate’s stock valued at $4,532,000 after acquiring an additional 13,472 shares in the last quarter. KBC Group NV purchased a new position in shares of Raven Industries in the third quarter valued at about $271,000. Finally, Creative Planning lifted its position in shares of Raven Industries by 3.3% in the fourth quarter. Creative Planning now owns 156,607 shares of the conglomerate’s stock valued at $5,379,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors own 73.02% of the company’s stock.
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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