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.
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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