Raven Industries (NASDAQ:RAVN) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Raven Industries (NASDAQ:RAVN) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. They currently have $51.00 price objective on the conglomerate’s stock.

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 research firms have also recently weighed in on RAVN. Lake Street Capital boosted their target price on Raven Industries from $50.00 to $55.00 and gave the stock a buy rating in a research note on Tuesday, May 18th. TheStreet cut Raven Industries from a b- rating to a c rating in a research note on Monday, March 22nd. Four analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus price target of $42.00.

Shares of Raven Industries stock opened at $43.04 on Thursday. Raven Industries has a one year low of $19.45 and a one year high of $47.43. The firm has a market capitalization of $1.55 billion, a P/E ratio of 64.24, a PEG ratio of 2.67 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.56 and a current ratio of 2.61. The stock’s 50-day moving average is $41.42.

Raven Industries (NASDAQ:RAVN) last announced its quarterly earnings data on Monday, May 17th. The conglomerate reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.12. Raven Industries had a return on equity of 9.37% and a net margin of 6.53%. On average, analysts forecast that Raven Industries will post 0.81 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in Raven Industries by 7.6% in the first quarter. BlackRock Inc. now owns 5,902,946 shares of the conglomerate’s stock valued at $226,260,000 after buying an additional 419,270 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Raven Industries by 26.6% during the first quarter. Bank of New York Mellon Corp now owns 1,564,126 shares of the conglomerate’s stock worth $59,953,000 after purchasing an additional 328,943 shares during the last quarter. ARK Investment Management LLC raised its stake in shares of Raven Industries by 184.6% during the first quarter. ARK Investment Management LLC now owns 1,405,340 shares of the conglomerate’s stock worth $53,867,000 after purchasing an additional 911,597 shares during the last quarter. Capco Asset Management LLC raised its stake in shares of Raven Industries by 1.2% during the first quarter. Capco Asset Management LLC now owns 634,392 shares of the conglomerate’s stock worth $24,316,000 after purchasing an additional 7,735 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its stake in shares of Raven Industries by 14.4% during the fourth quarter. Vident Investment Advisory LLC now owns 611,426 shares of the conglomerate’s stock worth $20,232,000 after purchasing an additional 77,108 shares during the last quarter. Institutional investors own 80.92% of the company’s stock.

Raven Industries Company Profile

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

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