Some Traders Are Very Bullish on Raven Industries, Inc. (RAVN) After Forming Wedge Up

April 23, 2018 - By Clifton Ray

Raven Industries, Inc. (NASDAQ:RAVN) Logo

Investors sentiment decreased to 1.06 in 2017 Q4. Its down 0.10, from 1.16 in 2017Q3. It dropped, as 14 investors sold Raven Industries, Inc. shares while 52 reduced holdings. 27 funds opened positions while 43 raised stakes. 25.24 million shares or 1.01% less from 25.49 million shares in 2017Q3 were reported.
122,924 are owned by California Pub Employees Retirement Systems. Alliancebernstein L P owns 46,488 shares or 0% of their US portfolio. 9,300 were reported by Mason Street Advisors Limited Liability. Dimensional Fund Advisors Limited Partnership has 1.61M shares. Barrow Hanley Mewhinney Strauss Limited Liability Company holds 0% or 78,724 shares in its portfolio. Thompson Siegel Walmsley Lc owns 0% invested in Raven Industries, Inc. (NASDAQ:RAVN) for 600 shares. Prudential Fin holds 0% or 60,924 shares in its portfolio. 6,485 were reported by Savant Capital Ltd Liability Com. Pnc Grp Inc holds 0% of its portfolio in Raven Industries, Inc. (NASDAQ:RAVN) for 587 shares. Caprock has 0.06% invested in Raven Industries, Inc. (NASDAQ:RAVN). Royal National Bank & Trust Of Canada has 40,220 shares for 0% of their portfolio. Rhumbline Advisers accumulated 0.01% or 83,698 shares. Kames Cap Public Lc accumulated 0.16% or 184,002 shares. State Of Tennessee Treasury Department reported 0% in Raven Industries, Inc. (NASDAQ:RAVN). 2,300 were accumulated by Quantbot Technology Lp.

Since March 21, 2018, it had 1 insider buy, and 0 sales for $114,943 activity.

The stock of Raven Industries, Inc. (RAVN) formed an up wedge with $41.69 target or 9.00 % above today’s $38.25 share price. The 8 months wedge indicates low risk for the $1.37 billion company. If the $41.69 price target is reached, the company will be worth $123.66M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.66% or $0.25 during the last trading session, reaching $38.25. About 117,457 shares traded. Raven Industries, Inc. (NASDAQ:RAVN) has risen 18.49% since April 23, 2017 and is uptrending. It has outperformed by 6.94% the S&P500.

Analysts await Raven Industries, Inc. (NASDAQ:RAVN) to report earnings on May, 28. They expect $0.50 EPS, up 47.06 % or $0.16 from last year’s $0.34 per share. RAVN’s profit will be $17.96M for 19.13 P/E if the $0.50 EPS becomes a reality. After $0.24 actual EPS reported by Raven Industries, Inc. for the previous quarter, Wall Street now forecasts 108.33 % EPS growth.

Raven Industries, Inc. (NASDAQ:RAVN) Ratings Coverage

Among 3 analysts covering Raven (NASDAQ:RAVN), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Raven had 4 analyst reports since November 3, 2017 according to SRatingsIntel. The stock of Raven Industries, Inc. (NASDAQ:RAVN) earned “Buy” rating by SunTrust on Wednesday, January 31. The stock of Raven Industries, Inc. (NASDAQ:RAVN) has “Hold” rating given on Tuesday, November 21 by Piper Jaffray. Dougherty downgraded the stock to “Neutral” rating in Tuesday, December 5 report. The firm has “Hold” rating by Piper Jaffray given on Friday, November 3.

Raven Industries, Inc. (NASDAQ:RAVN) Institutional Positions Chart

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