Rogers Corporation (ROG) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Rogers Corporation (NYSE:ROG) from a hold rating to a buy rating in a research report report published on Friday. They currently have $130.00 price target on the electronics maker’s stock.
According to Zacks, “Rogers Corporation manufactures and sells specialty polymer composite materials and components which it develops for growing markets and applications around the world. The company has two business segments: Polymer Materials and Electronic Materials. The company’s products are based on its core technologies in polymers, fillers, and adhesion. Most products are proprietary, or incorporate proprietary technology in their development and processing, and are sold under the company’s valuable brand names. “
Other research analysts also recently issued research reports about the company. B. Riley reiterated a buy rating and set a $120.00 price target on shares of Rogers Corporation in a report on Saturday, April 29th. Needham & Company LLC reiterated a buy rating and set a $115.00 price target (up previously from $91.00) on shares of Rogers Corporation in a report on Friday, April 28th. Sidoti reiterated a buy rating and set a $125.00 price target (up previously from $120.00) on shares of Rogers Corporation in a report on Monday, June 19th. BidaskClub downgraded Rogers Corporation from a strong-buy rating to a buy rating in a report on Friday, June 16th. Finally, Royal Bank Of Canada reiterated an outperform rating on shares of Rogers Corporation in a report on Tuesday, May 23rd. Eight investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and an average price target of $134.25.
Rogers Corporation (NYSE ROG) opened at 112.64 on Friday. Rogers Corporation has a 52-week low of $51.98 and a 52-week high of $123.38. The firm has a 50-day moving average price of $115.18 and a 200 day moving average price of $99.55. The firm has a market capitalization of $2.05 billion, a P/E ratio of 27.16 and a beta of 1.16.
Rogers Corporation (NYSE:ROG) last issued its quarterly earnings results on Monday, July 31st. The electronics maker reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.13. Rogers Corporation had a return on equity of 13.28% and a net margin of 10.21%. The business had revenue of $201.40 million for the quarter, compared to the consensus estimate of $195.60 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. Rogers Corporation’s revenue for the quarter was up 27.9% compared to the same quarter last year. Analysts forecast that Rogers Corporation will post $5.55 EPS for the current year.
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In other Rogers Corporation news, Director Peter C. Wallace sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $107.28, for a total value of $214,560.00. Following the transaction, the director now owns 14,300 shares in the company, valued at $1,534,104. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert C. Daigle sold 4,485 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $121.52, for a total value of $545,017.20. The disclosure for this sale can be found here. Insiders sold 7,335 shares of company stock worth $854,089 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ROG. Teachers Advisors LLC increased its position in shares of Rogers Corporation by 20.1% in the fourth quarter. Teachers Advisors LLC now owns 36,219 shares of the electronics maker’s stock worth $2,782,000 after buying an additional 6,061 shares during the period. Bank of Montreal Can increased its position in shares of Rogers Corporation by 1,165.4% in the first quarter. Bank of Montreal Can now owns 53,881 shares of the electronics maker’s stock worth $4,627,000 after buying an additional 49,623 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Rogers Corporation by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 7,300 shares of the electronics maker’s stock worth $627,000 after buying an additional 100 shares during the period. State of Alaska Department of Revenue increased its position in shares of Rogers Corporation by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 1,990 shares of the electronics maker’s stock worth $170,000 after buying an additional 40 shares during the period. Finally, James Investment Research Inc. purchased a new position in shares of Rogers Corporation during the first quarter worth approximately $1,977,000. Hedge funds and other institutional investors own 93.36% of the company’s stock.
About Rogers Corporation
Rogers Corporation manufactures and sells engineered materials and components for mission critical applications. The Company’s segments are Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES) and Other. The ACS segment manufactures and sells circuit materials and solutions for applications in wireless communications infrastructure, automotive, connected devices, consumer electronics and aerospace/defense.
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