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Raven (RAVN) Buys Jaybridge Robotics' Intellectual Property

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Raven Industries, Inc. (RAVN - Free Report) yesterday announced that it acquired patents and intellectual property (“IP”) of Jaybridge Robotics. The financial terms of the acquisition have been kept under wraps.

It is worth mentioning here that Raven’s shares declined 3.9% yesterday, ending the trading session at $38.03.

Jaybridge Robotics engages in developing automated agriculture technology. The company is headquartered in Cambridge, MA.

Inside the Headlines

As part of the purchase, Raven has added some important technology patents of Jaybridge Robotics, including those related to the detection of obstacles, planning of paths and control systems for multiple machines, to its portfolio.

The purchases are anticipated to aid in Raven’s efforts to develop driverless agriculture technology. In addition, the company might integrate the acquired technologies into its AutoCart platform.

Zacks Rank, Estimate Trend and Price Performance

With a $1.4-billion market capitalization, Raven currently carries a Zacks Rank #4 (Sell). It is poised to benefit from its solid product offerings, improving market conditions, acquired assets and focus on technology development. However, the headwinds related to the pandemic remain concerning.

In the past three months, the company’s shares have gained 3.7% as compared with the industry’s growth of 5.8%.


Meanwhile, the Zacks Consensus Estimate for its earnings is pegged at 71 cents for fiscal 2022 (ending January 2022) and 97 cents for fiscal 2023 (ending January 2023), reflecting declines of 22.8% and 15.7% from the respective 60-day-ago figures.

Some other companies from the same industry engaging in buyout activities in the past few months are Griffon Corporation (GFF - Free Report) , Danaher Corporation (DHR - Free Report) and Honeywell International Inc. (HON - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

In the past 60 days, earnings estimates for Griffon and Honeywell have improved for the current year, while have been unchanged for Danaher. Also, its earnings surprise for the last reported quarter was 55.56% for Griffon, 13.04% for Danaher and 3.50% for Honeywell.

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