Raven Industries, Inc., a technology company, provides various products to customers in the industrial, agricultural, geo-membrane, construction, aerospace and defense, and commercial lighter-than-air markets worldwide. It operates through 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. Its products include application controls, GPS-guidance steering systems, field computers, automatic boom controls, machine automation, information management tools, and injection systems, as well as Slingshot, a communications platform for its ag retailers, custom applicators, and enterprise farms; and services comprise high-speed in-field Internet connectivity and cloud-based data management. This segment sells its products to original equipment manufacturers and through aftermarket distribution partners. The Engineered Films segment produces plastic films and sheeting for geo-membrane, agricultural, construction, and industrial applications; and offers design-build and installation services for plastic films and sheeting. This segment sells its products directly to end-customers and through independent third-party distributors. The Aerostar segment offers high-altitude stratospheric platforms, technical services, and radar systems to provide research, communications, and situational awareness capabilities to governmental and commercial customers in the aerospace and defense, and commercial lighter-than-air markets. Raven Industries, Inc. was incorporated in 1956 and is headquartered in Sioux Falls, South Dakota.
IPO Year: n/a
Exchange: NASDAQ
Website: ravenind.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/24/2021 | Market Outperform → Market Perform | CJS Securities |
CJS Securities downgraded Raven Industries from Market Outperform to Market Perform
Lake Street downgraded Raven Industries from Buy to Hold and set a new price target of $58.00 from $55.00 previously
Lake Street downgraded Raven Industries from Buy to Hold
Lake Street initiated coverage of Raven Industries with a rating of Buy and set a new price target of $50.00
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SIOUX FALLS, S.D.--(BUSINESS WIRE)--Raven Industries, Inc. (the Company; NASDAQ:RAVN), a diversified technology leader in agriculture, high-performance specialty films, and aerospace and defense solutions, announced the appointment of Taimur Sharih as Chief Financial Officer, effective March 1. “Taimur’s leadership and track record of driving results and transformational growth fits exceptionally well with Raven’s bold strategy,” said Dan Rykhus, President and Chief Executive Officer. “Taimur brings 25 years of leadership and financial experience in a variety of businesses and global markets, where he’s been responsible for supporting sizeable operations and leading high-performi
WESTMINSTER, Colo.--(BUSINESS WIRE)--Maxar Technologies (NYSE:MAXR) (TSX:MAXR), a trusted partner and innovator in Earth Intelligence and Space Infrastructure, today announced the appointment of Dr. Heather Wilson to serve on the Company’s Board of Directors. Dr. Wilson will serve as a Director for a term expiring at the Company’s 2021 Annual Meeting of Stockholders when she will stand for election by the stockholders. Dr. Wilson, age 60, has served as President of The University of Texas at El Paso since 2019. Previously, she was the Secretary of the United States Air Force from May 2017 through May 2019. From 1998 to 2009, Dr. Wilson represented Albuquerque, New Mexico in the U
Acquisition Drives Additional Value as Opportunities Increase Raven Industries, Inc. ((the Company, NASDAQ:RAVN) announced today that Raven Aerostar, the world leader in high altitude lighter-than-air technology, has acquired intellectual property (IP) and patents from Loon, LLC (formerly known as Project Loon), a subsidiary of Alphabet Inc. and the developer of an autonomous constellation of high-altitude balloons for communications. In January, Alphabet announced the wind down of Loon. The 176 assets acquired by Raven are directly related to stratospheric balloon technology, including balloon navigation, launching operations and balloon manufacturing. Raven Aerostar continues to deliver
Raven Industries, Inc. ((the Company, NASDAQ:RAVN) today reported financial results for the second quarter that ended July 31, 2021. Second Quarter Fiscal 2022 Noteworthy Items: Company entered into an agreement to be acquired by CNH Industrial N.V. in an all-cash transaction that values the Company at approximately $2.1 billion, or $58.00 per share; Consolidated net sales were $114.4 million, an increase of 34.3 percent versus the prior year; Company reported diluted earnings per share of $0.19, an increase of 18.8 percent versus the prior year; Second quarter results included $4.9 million pre-tax and $3.8 million after-tax of acquisition related expenses, or $0.10 per diluted sha
Applied Technology Division Sets Record Quarterly Revenue Raven Industries, Inc. ((the Company, NASDAQ:RAVN) today reported financial results for the first quarter that ended April 30, 2021. First Quarter Fiscal 2022 Noteworthy Items: Consolidated net sales were $112.5 million, an increase of 30.0 percent versus the prior year; Company reported diluted earnings per share of $0.26, an increase of $0.15 or 136 percent versus the prior year; Applied Technology generated record quarterly revenue of $54.9 million, an increase of 30.6 percent versus the prior year, driven by significant growth in both the OEM and aftermarket channels; Applied Technology secured orders for 36 OMNiDRIVE™
SIOUX FALLS, S.D.--(BUSINESS WIRE)--Raven Industries, Inc. (the Company; NASDAQ:RAVN), a leader in agriculture technology, announced today that it has purchased all of the intellectual property (IP) and patents of Jaybridge Robotics, an early developer of automated agriculture technology. Jaybridge’s unique IP portfolio includes significant and critical patents for technology directly related to path-planning, obstacle detection and avoidance, and multi-machine control systems. Raven will leverage this IP portfolio with the Company’s continued development of Driverless Ag Technology — including integration of the technology into the Company’s AutoCart® platform. “By acquiring Ja
SIOUX FALLS, S.D.--(BUSINESS WIRE)--Raven Industries, Inc. (the Company; NASDAQ:RAVN) today reported financial results for the fourth quarter that ended January 31, 2021. Fourth Quarter Fiscal 2021 Noteworthy Items: Net sales in Applied Technology increased 6 percent versus the prior year on a reported basis; Company invested $4.4 million, or $0.09 per share after-tax, primarily in research and development activities, to advance Raven Autonomy™; Both Applied Technology and Engineered Films generated strong customer order activity as the divisions' industry-leading technology and improving market conditions have led to rising demand; Aerostar continued its development and
Raven Aerostar to Provide Robust High-Altitude Capabilities That Meet Department of Defense Operational Needs SIOUX FALLS, S.D.--(BUSINESS WIRE)-- Raven Industries, Inc. ((the Company, NASDAQ:RAVN) announced today that Defense Innovation Unit (DIU) has awarded a contract to Aerostar Technical Solutions, Inc. (Raven Aerostar) to provide robust high-altitude capabilities for the U.S. Department of Defense. DIU is focused on exclusively fielding and scaling commercial technology for use across the U.S. military. Through a variety of service-driven prototyping and field utility demonstration efforts, Raven Aerostar will demonstrate the utility of stratospheric balloons for a variety of DoD oper
NEW YORK, Nov. 24, 2021 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 effective prior to the opening of trading on Thursday, December 2: Bruker BioSciences Corp. (NASD:BRKR) will replace KAR Auction Services Inc. (NYSE:KAR) in the S&P MidCap 400, and KAR Auction Services will replace Meredith Corp. (NYSE:MDP) in the S&P SmallCap 600. Meredith is being acquired in a two-step transaction that is expected to be completed on or about December 1. KAR Auctions is more representative of the small-cap market space.Cars.com Inc. (NYSE:CARS) will replace DSP Group Inc. (NASD:DSPG) in the S&P SmallCap 600. S&P MidCap 400 constituent Sy
Raven Aerostar to Provide Robust High-Altitude Capabilities That Meet Department of Defense Operational Needs Raven Industries, Inc. ((the Company, NASDAQ:RAVN) announced today that Defense Innovation Unit (DIU) has awarded a contract to Aerostar Technical Solutions, Inc. (Raven Aerostar) to provide robust high-altitude capabilities for the U.S. Department of Defense. DIU is focused on exclusively fielding and scaling commercial technology for use across the U.S. military. Through a variety of service-driven prototyping and field utility demonstration efforts, Raven Aerostar will demonstrate the utility of stratospheric balloons for a variety of DoD operational needs. The prototype project
South Dakota Mines' Department of Electrical Engineering has received $150,000 from Raven Industries (NASDAQ:RAVN) to support the university's new minor in avionics. The company's Aerostar division is the global leader in stratospheric balloon technology, and its platforms are used for near-space applications in aerospace, defense and scientific research. The gift endows a Raven Aerostar scholarship to support students in the avionics program. It also allows the department to buy equipment for improved design, test and prototyping capabilities for high-speed electronic circuits needed in aircraft and space avionics applications. This press release features multimedia. View the full release
Acquisition Drives Additional Value as Opportunities Increase Raven Industries, Inc. ((the Company, NASDAQ:RAVN) announced today that Raven Aerostar, the world leader in high altitude lighter-than-air technology, has acquired intellectual property (IP) and patents from Loon, LLC (formerly known as Project Loon), a subsidiary of Alphabet Inc. and the developer of an autonomous constellation of high-altitude balloons for communications. In January, Alphabet announced the wind down of Loon. The 176 assets acquired by Raven are directly related to stratospheric balloon technology, including balloon navigation, launching operations and balloon manufacturing. Raven Aerostar continues to deliver
Raven Industries, Inc. ((the Company, NASDAQ:RAVN) announced today that the company monitored major active wildfires via stratospheric balloon over the past several months, successfully demonstrating the use of stratospheric balloon technology for wildfire management. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210928005744/en/A thermal camera image (left) taken at the same time as a visible camera image (right). Both images were captured by one of Raven Aerostar's Thunderhead Balloon Systems while station-seeking above and monitoring a wildfire. While billowing smoke obscures the visual image, active flames are identified as
Raven Industries, Inc. ((the Company, NASDAQ:RAVN) announced that, at a special meeting held on September 15, 2021, its shareholders voted strongly to approve the pending transaction with CNH Industrial N.V. (NYSE:CNHI). More than 71% of the outstanding shares of Raven voted, and of the shares that voted, over 99% voted in favor of the transaction with CNH Industrial. Dan Rykhus, Raven President & Chief Executive Officer, said, "We thank our shareholders for their strong support of this transaction. We look forward to working with the CNH Industrial team to close the transaction." The transaction is expected to close in the fourth quarter of 2021, subject to approval from the Committee on
Raven Industries, Inc. ((the Company, NASDAQ:RAVN) announced today that Great Place to Work® and Fortune magazine have honored Raven as one of the 2021 Best Workplaces in Manufacturing & Production™. This is the company's first time being named to this prestigious list, coming in at 17th place. Earning a spot means that Raven is one of the best companies to work for in the country. The Best Workplaces in Manufacturing & Production award is based on analysis of survey responses from more than 220,000 current employees. In that survey, 85% of Raven's team members said Raven is a great place to work, versus 59% at the average U.S. company. "We are so grateful for our team members who made us
Market Demand for OMNiDRIVE™ Accelerates Raven Commitment to Prove Autonomous Solutions for Ag Professionals Raven Industries, Inc. ((the Company, NASDAQ:RAVN), the leader in Driverless Ag Technology, announced today it will showcase and demonstrate the company's OMNi suite of technology at Farm Progress Show, one of the largest public farm shows in the United States. At the show, Raven will feature its industry-leading technology in the event's Autonomy Zone, where the company will debut OMNiDRIVE™ on Case IH Magnum™ and showcase OMNiPOWER™ performing autonomous missions. The public can experience OMNi August 31 through September 2, 2021, from 8:00 a.m. – 5:00 p.m. daily. This press relea
Raven Industries, Inc. ((the Company, NASDAQ:RAVN) today reported financial results for the second quarter that ended July 31, 2021. Second Quarter Fiscal 2022 Noteworthy Items: Company entered into an agreement to be acquired by CNH Industrial N.V. in an all-cash transaction that values the Company at approximately $2.1 billion, or $58.00 per share; Consolidated net sales were $114.4 million, an increase of 34.3 percent versus the prior year; Company reported diluted earnings per share of $0.19, an increase of 18.8 percent versus the prior year; Second quarter results included $4.9 million pre-tax and $3.8 million after-tax of acquisition related expenses, or $0.10 per diluted sha
London/Sioux Falls, June 21, 2021 CNH Industrial N.V. (NYSE:CNHI) today announced that it has entered into an agreement to acquire 100% of the capital stock of Raven Industries, Inc. (NASDAQ:RAVN), a US-based leader in precision agriculture technology for US$58 per share, representing a 33.6% premium to the Raven Industries 4-week volume-weighted average stock price, and US$2.1 billion Enterprise Value. The transaction will be funded with available cash on hand of CNH Industrial. Closing is expected to occur in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions, including approval of Raven shareholders and receipt of regulatory approvals. The acquisitio