Raven Industries (NASDAQ:RAVN) Lowered to Strong Sell at BidaskClub

BidaskClub lowered shares of Raven Industries (NASDAQ:RAVN) from a sell rating to a strong sell rating in a research note released on Friday, BidAskClub reports.

Separately, Sidoti assumed coverage on shares of Raven Industries in a report on Thursday, May 30th. They issued a neutral rating for the company.

NASDAQ RAVN opened at $35.05 on Friday. The stock has a market capitalization of $1.30 billion, a PE ratio of 23.68 and a beta of 1.39. Raven Industries has a 52-week low of $32.40 and a 52-week high of $49.80. The business’s 50-day moving average price is $34.91.

Raven Industries (NASDAQ:RAVN) last issued its earnings results on Monday, May 20th. The conglomerate reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.08). Raven Industries had a net margin of 10.89% and a return on equity of 14.46%. The company had revenue of $98.18 million during the quarter.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Monday, July 15th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.48%. Raven Industries’s dividend payout ratio (DPR) is presently 35.14%.

A number of institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its holdings in Raven Industries by 34.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,200 shares of the conglomerate’s stock valued at $43,000 after buying an additional 308 shares in the last quarter. Rhumbline Advisers grew its position in shares of Raven Industries by 0.3% in the first quarter. Rhumbline Advisers now owns 102,628 shares of the conglomerate’s stock valued at $3,938,000 after purchasing an additional 344 shares during the last quarter. Mason Street Advisors LLC grew its position in shares of Raven Industries by 3.4% in the first quarter. Mason Street Advisors LLC now owns 11,547 shares of the conglomerate’s stock valued at $443,000 after purchasing an additional 381 shares during the last quarter. Piedmont Investment Advisors Inc. grew its position in shares of Raven Industries by 6.0% in the first quarter. Piedmont Investment Advisors Inc. now owns 9,066 shares of the conglomerate’s stock valued at $348,000 after purchasing an additional 510 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Raven Industries by 8.4% in the fourth quarter. Raymond James & Associates now owns 7,412 shares of the conglomerate’s stock valued at $268,000 after purchasing an additional 575 shares during the last quarter. 74.73% of the stock is owned by institutional investors.

Raven Industries Company Profile

Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geomembrane, construction, commercial lighter-than-air, and aerospace and defense markets worldwide. It operates through three segments: Applied Technology, Engineered Films, and Aerostar.

Featured Article: Buy Rating

Receive News & Ratings for Raven Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raven Industries and related companies with MarketBeat.com's FREE daily email newsletter.