Raven Stock Hits New 52-Week High (RAVN)

NEW YORK ( TheStreet) -- Raven Industries (Nasdaq: RAVN) hit a new 52-week high Friday as it is currently trading at $69.55, above its previous 52-week high of $69.30 with 6,356 shares traded as of 10:05 a.m. ET. Average volume has been 54,100 shares over the past 30 days.

Raven has a market cap of $1.17 billion and is part of the technology sector and electronics industry. Shares are up 9.8% year to date as of the close of trading on Thursday.

Raven Industries, Inc., together with its subsidiaries, manufactures various products for industrial, agricultural, construction, and military/aerospace markets, primarily in North America. The company has a P/E ratio of 26.2, above the average electronics industry P/E ratio of 25.1 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Raven as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Raven Ratings Report.

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