Raven Industries, Inc. (NASDAQ:RAVN) Short Interest Update


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Raven Industries, Inc. (NASDAQ:RAVN) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 600,100 shares, a decline of 18.6% from the March 31st total of 737,100 shares. Based on an average daily trading volume, of 319,800 shares, the short-interest ratio is presently 1.9 days. Currently, 1.7% of the shares of the company are short sold.

Several brokerages recently commented on RAVN. Lake Street Capital began coverage on shares of Raven Industries in a report on Thursday, March 25th. They set a “buy” rating and a $50.00 target price for the company. Zacks Investment Research cut shares of Raven Industries from a “hold” rating to a “sell” rating in a research note on Friday, March 26th. Finally, TheStreet cut shares of Raven Industries from a “b-” rating to a “c” rating in a research note on Monday, March 22nd. One analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Raven Industries currently has an average rating of “Buy” and a consensus target price of $37.25.

RAVN stock traded down $0.85 during trading on Tuesday, reaching $40.42. 169,786 shares of the company were exchanged, compared to its average volume of 307,942. The company has a 50-day moving average of $38.47 and a two-hundred day moving average of $33.57. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 67.17, a P/E/G ratio of 4.51 and a beta of 1.48. Raven Industries has a twelve month low of $17.56 and a twelve month high of $45.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 2.15.

Raven Industries (NASDAQ:RAVN) last released its quarterly earnings data on Sunday, March 21st. The conglomerate reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.14). Raven Industries had a return on equity of 9.49% and a net margin of 6.18%. On average, analysts forecast that Raven Industries will post 0.83 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. acquired a new position in Raven Industries during the 1st quarter worth about $115,000. Strs Ohio lifted its holdings in Raven Industries by 126.9% during the 3rd quarter. Strs Ohio now owns 11,800 shares of the conglomerate’s stock worth $253,000 after buying an additional 6,600 shares during the period. First PREMIER Bank lifted its holdings in Raven Industries by 22.3% during the 4th quarter. First PREMIER Bank now owns 16,468 shares of the conglomerate’s stock worth $545,000 after buying an additional 3,000 shares during the period. Pioneer Trust Bank N A OR acquired a new position in Raven Industries during the 4th quarter worth about $265,000. Finally, Foster Group Inc. bought a new position in shares of Raven Industries in the 4th quarter worth about $506,000. Institutional investors and hedge funds own 77.44% of the company’s stock.

About Raven Industries

Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geo-membrane, construction, aerospace/defense, and commercial lighter-than-air markets worldwide. It operates in three segments: Applied Technology, Engineered Films, and Aerostar. The Applied Technology segment designs, manufactures, sells, and services precision agriculture products and information management tools that enable farmers to enhance farm yields.

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