Zacks Investment Research upgraded shares of Rogers (NYSE:ROG) from a sell rating to a hold rating in a research note published on Tuesday, September 18th.
According to Zacks, “Rogers Corporation is a global leader in engineered materials to power, protect, and connect their world. With more than 180 years of materials science experience, Rogers delivers high-performance solutions that enable clean energy, internet connectivity, and safety and protection applications, as well as other technologies where reliability is critical. Rogers delivers Power Electronics Solutions for energy-efficient motor drives, e-Mobility and renewable energy; Elastomeric Material Solutions for sealing, vibration management and impact protection in mobile devices, transportation interiors, industrial equipment and performance apparel; and Advanced Connectivity Solutions for wireless infrastructure, automotive safety and radar systems. Headquartered in Arizona (USA), Rogers operates manufacturing facilities in the United States, China, Germany, Belgium, Hungary, and South Korea, with joint ventures and sales offices worldwide. “
Several other brokerages have also weighed in on ROG. ValuEngine upgraded shares of Rogers from a hold rating to a buy rating in a report on Tuesday, August 28th. Sidoti reiterated a buy rating and set a $175.00 price objective on shares of Rogers in a report on Thursday, September 6th. Finally, B. Riley cut their price objective on shares of Rogers from $155.00 to $150.00 and set a buy rating on the stock in a report on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $175.25.
Shares of ROG stock traded up $0.87 during trading hours on Tuesday, hitting $125.83. 119,939 shares of the company were exchanged, compared to its average volume of 145,780. The firm has a market cap of $2.71 billion, a P/E ratio of 21.85 and a beta of 1.52. Rogers has a 1 year low of $105.60 and a 1 year high of $184.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.92 and a quick ratio of 3.72.
Rogers (NYSE:ROG) last announced its quarterly earnings data on Tuesday, July 31st. The electronics maker reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.14). The company had revenue of $214.68 million for the quarter, compared to analysts’ expectations of $214.33 million. Rogers had a return on equity of 13.02% and a net margin of 8.99%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.33 earnings per share. Analysts expect that Rogers will post 5.47 earnings per share for the current fiscal year.
In related news, SVP Jay B. Knoll sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $151.58, for a total value of $189,475.00. Following the transaction, the senior vice president now owns 7,007 shares in the company, valued at $1,062,121.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeffrey M. Grudzien sold 1,751 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $131.11, for a total transaction of $229,573.61. Following the completion of the transaction, the senior vice president now owns 22,992 shares in the company, valued at approximately $3,014,481.12. The disclosure for this sale can be found here. Insiders sold 21,712 shares of company stock worth $3,176,122 in the last 90 days. 0.96% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Rogers by 10.0% in the second quarter. BlackRock Inc. now owns 2,536,309 shares of the electronics maker’s stock valued at $282,697,000 after buying an additional 230,796 shares during the period. Janus Henderson Group PLC raised its holdings in Rogers by 124.3% in the second quarter. Janus Henderson Group PLC now owns 959,893 shares of the electronics maker’s stock valued at $106,990,000 after buying an additional 531,945 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in Rogers by 9.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 549,037 shares of the electronics maker’s stock valued at $65,632,000 after buying an additional 45,415 shares during the period. Conestoga Capital Advisors LLC raised its holdings in Rogers by 7.4% in the second quarter. Conestoga Capital Advisors LLC now owns 465,168 shares of the electronics maker’s stock valued at $51,848,000 after buying an additional 32,230 shares during the period. Finally, Northern Trust Corp grew its position in Rogers by 0.7% in the second quarter. Northern Trust Corp now owns 433,278 shares of the electronics maker’s stock valued at $48,293,000 after acquiring an additional 3,091 shares in the last quarter. Hedge funds and other institutional investors own 93.94% of the company’s stock.
Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. The company's Advanced Connectivity Solutions segment offers circuit materials and solutions for connectivity applications in wireless communications infrastructure, automotive, connected devices, wired infrastructure, consumer electronics, and aerospace/defense.
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