Raven Industries Inc. (NASDAQ:RAVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $25.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 12.66% from the company’s current price.

According to Zacks, “Raven expects to surpass prior year sales and adjusted operating income in fiscal year 2017. The company is poised to benefit from focus on technological advancements, new product introduction and share repurchases. Its products are getting favorable customer feedback and generating strong demand. Further, strong pipeline in the Aerostar segment bodes well for the company. Additionally, the company is developing new stratospheric balloon solutions for other new customers. Further repurchases will support the stock.”

Raven Industries (NASDAQ:RAVN) opened at 22.19 on Friday. The company has a market cap of $803.43 million, a PE ratio of 87.71 and a beta of 1.11. The company has a 50-day moving average price of $22.50 and a 200-day moving average price of $18.75. Raven Industries has a 1-year low of $12.88 and a 1-year high of $25.47.

Raven Industries (NASDAQ:RAVN) last posted its earnings results on Tuesday, August 23rd. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Raven Industries had a net margin of 3.60% and a return on equity of 5.81%. The business earned $68 million during the quarter. On average, analysts expect that Raven Industries will post $0.50 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Wednesday, October 12th. Raven Industries’s dividend payout ratio (DPR) is presently 200.00%.

A number of large investors have recently bought and sold shares of RAVN. Chilton Capital Management LLC acquired a new stake in shares of Raven Industries during the first quarter worth about $170,000. Envestnet Asset Management Inc. increased its stake in shares of Raven Industries by 43.9% in the first quarter. Envestnet Asset Management Inc. now owns 13,654 shares of the company’s stock worth $219,000 after buying an additional 4,165 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Raven Industries by 27.9% in the first quarter. Renaissance Technologies LLC now owns 246,000 shares of the company’s stock worth $3,941,000 after buying an additional 53,700 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Raven Industries by 4.1% in the first quarter. Geode Capital Management LLC now owns 259,959 shares of the company’s stock worth $4,164,000 after buying an additional 10,337 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Raven Industries by 157.6% in the first quarter. Goldman Sachs Group Inc. now owns 45,994 shares of the company’s stock worth $737,000 after buying an additional 28,139 shares during the last quarter. 74.33% of the stock is owned by institutional investors and hedge funds.

About Raven Industries

Raven Industries, Inc is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar).

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