Raven Industries (NASDAQ:RAVN) Cut 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 issued to investors on Friday, BidAskClub reports.

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

NASDAQ:RAVN opened at $27.56 on Friday. Raven Industries has a one year low of $27.39 and a one year high of $49.80. The company has a market cap of $1.13 billion, a P/E ratio of 18.62 and a beta of 1.34. The firm’s fifty day moving average price is $34.45 and its two-hundred day moving average price is $36.58.

Raven Industries (NASDAQ:RAVN) last released its quarterly earnings data on Thursday, August 22nd. The conglomerate reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.10). Raven Industries had a net margin of 9.76% and a return on equity of 12.55%. The company had revenue of $98.06 million during the quarter.

Large investors have recently added to or reduced their stakes in the business. Walleye Trading Advisors LLC acquired a new stake in Raven Industries during the 2nd quarter valued at approximately $370,000. Bamco Inc. NY increased its position in Raven Industries by 8.2% during the 2nd quarter. Bamco Inc. NY now owns 763,253 shares of the conglomerate’s stock valued at $27,386,000 after purchasing an additional 58,153 shares during the period. Nuveen Asset Management LLC acquired a new stake in Raven Industries during the 2nd quarter valued at approximately $5,306,000. D. E. Shaw & Co. Inc. increased its position in Raven Industries by 183.3% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 46,395 shares of the conglomerate’s stock valued at $1,665,000 after purchasing an additional 30,018 shares during the period. Finally, Morgan Stanley increased its position in Raven Industries by 298.8% during the 2nd quarter. Morgan Stanley now owns 353,840 shares of the conglomerate’s stock valued at $12,696,000 after purchasing an additional 265,113 shares during the period. Hedge funds and other institutional investors own 74.51% of the company’s stock.

About Raven Industries

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.

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