Raven Industries, Inc. (RAVN) Receives $35.00 Average PT from Brokerages
Shares of Raven Industries, Inc. (NASDAQ:RAVN) have received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $35.00.
A number of research firms have recently issued reports on RAVN. 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. Dougherty & Co reaffirmed a “buy” rating on shares of Raven Industries in a report on Friday, August 18th. SunTrust Banks began coverage on shares of Raven Industries in a report on Friday, August 18th. They set a “hold” rating and a $36.00 price objective for the company. Zacks Investment Research raised shares of Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Friday, December 8th. Finally, BidaskClub downgraded shares of Raven Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th.
Raven Industries (NASDAQ:RAVN) traded up $0.35 during midday trading on Friday, hitting $34.15. 89,607 shares of the stock were exchanged, compared to its average volume of 156,483. Raven Industries has a 52 week low of $23.65 and a 52 week high of $38.35. The company has a market cap of $1,210.00, a P/E ratio of 33.14, a P/E/G ratio of 3.31 and a beta of 1.48.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, January 11th. Raven Industries’s dividend payout ratio is presently 50.98%.
Raven Industries announced that its board has authorized a stock repurchase program on Monday, December 4th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the conglomerate to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
A number of institutional investors have recently bought and sold shares of RAVN. Teachers Advisors LLC lifted its stake in Raven Industries by 3.2% in the first quarter. Teachers Advisors LLC now owns 61,460 shares of the conglomerate’s stock worth $1,785,000 after purchasing an additional 1,877 shares during the last quarter. Capstone Asset Management Co. bought a new stake in Raven Industries in the second quarter worth $201,000. Aperio Group LLC lifted its stake in Raven Industries by 13.5% in the second quarter. Aperio Group LLC now owns 10,644 shares of the conglomerate’s stock worth $354,000 after purchasing an additional 1,264 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Raven Industries by 4.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,520 shares of the conglomerate’s stock worth $284,000 after purchasing an additional 390 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Raven Industries by 6.4% in the second quarter. Great West Life Assurance Co. Can now owns 52,826 shares of the conglomerate’s stock worth $1,757,000 after purchasing an additional 3,165 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.
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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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