In the premarket trading session, Raven Industries Inc.’s (RAVN) stock had surged by 47.23% to $56.86 at the last check. RAVN stock previously closed the session of Friday at a loss of -5.34% to $38.62. The RAVN stock volume traded 0.48 million shares. In the past year up to date, RAVN shares have jumped by 84.87%, however, in the past week, the shares moved plunged by -11.16%. In the past three and six months, the RAVN stock has gained 5.78% and added 16.50% respectively. Furthermore, the company is currently valued in the market at $1.47 billion and has 36.04 million outstanding shares.
Here’s what you need to know about Raven Industries
Raven Industries Inc. is a tech company that deals with the industrial sector along with many other sectors including agricultural, building and constructions, airline, defense, and other markets worldwide. The company provides various products to the customers related to technology.
The segments through which the company works include the Engineered Films, Aerostar and Applied Technology.
The Applied Tech segment focuses on the designing, manufacturing, marketing, and selling services related to the agriculture field as well as the information management tools. These tools are used by the farmers to enhance their farming yield.
Its items incorporate application controls, GPS-direction controlling frameworks, field PCs, programmed blast controls, machine computerization, data the board apparatuses, and infusion frameworks, just as Slingshot, a correspondences stage for its agriculture retailers, custom implements, and undertaking homesteads; and administrations involve high-velocity in-field Internet network and cloud-based information the executives. This section offers its items to unique hardware producers and through post-retail appropriation accomplices.
This Engineered Films segment focuses on the production of films made of plastic as well as a specific kind of sheeting that is used for geo-membrane, construction work, and industrial applications. The company also offers customized design creation and labor services to install these films and sheets. The products are sold through a direct channel of end customers and 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.
Raven Industry is being acquired by CNH industrial
The RAVN stock and company are being sold through a deal agreement today (21 June 2021) with the CNH industrial. The CNH industrial works as a global leader in the capital goods sector. The CNH industrial (“CNHI”) is mainly known for creating agricultural, commercial, construction, firefighting, defense vehicles, and earth-moving machinery. So based on this background of the company, it is apparent that CNHI is expanding and strengthening its position in the agricultural equipment business.
Further details of the deal
In retrospect, the company has already initiated a business restructuring and transforming operation where it is preparing to spin-off its trucks, business, and engine operations.
The deal has an enterprise value of $2.1 billion which is going to be paid to RAVN stock through a $58 per share price for a 33.6% premium based on the 4-week weighted volume of average stock price.
