Rogers Co. (ROG) Receives “Outperform” Rating from Royal Bank of Canada
Rogers Co. (NYSE:ROG)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a report released on Tuesday, StockTargetPrices.com reports. They presently have a C$1.95 price target on the electronics maker’s stock.
ROG has been the topic of several other reports. B. Riley reissued a “buy” rating and set a $90.00 price objective on shares of Rogers in a research report on Friday, February 17th. Needham & Company LLC raised their price objective on shares of Rogers from $79.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 21st. Zacks Investment Research downgraded shares of Rogers from a “buy” rating to a “hold” rating in a research report on Tuesday, March 14th. Finally, Sidoti raised shares of Rogers from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 11th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $85.83.
Shares of Rogers (NYSE:ROG) traded up 0.04% during trading on Tuesday, reaching $106.97. 15,846 shares of the company traded hands. The firm’s 50 day moving average price is $95.67 and its 200-day moving average price is $83.16. Rogers has a 52 week low of $51.98 and a 52 week high of $109.40. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 32.37 and a beta of 0.92.
Rogers (NYSE:ROG) last posted its earnings results on Wednesday, April 26th. The electronics maker reported $1.68 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.53. The firm had revenue of $203.80 million for the quarter, compared to the consensus estimate of $190.48 million. Rogers had a net margin of 6.75% and a return on equity of 10.61%. The company’s revenue was up 26.9% on a year-over-year basis. During the same period last year, the firm posted $0.94 EPS. Equities analysts anticipate that Rogers will post $5.33 EPS for the current fiscal year.
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In other news, Director William Mitchell sold 3,100 shares of the firm’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $89.02, for a total value of $275,962.00. Following the completion of the sale, the director now owns 5,415 shares in the company, valued at approximately $482,043.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Helen Zhang sold 3,184 shares of the firm’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $86.12, for a total transaction of $274,206.08. Following the completion of the sale, the senior vice president now owns 10,649 shares of the company’s stock, valued at approximately $917,091.88. The disclosure for this sale can be found here. Insiders have sold a total of 29,156 shares of company stock worth $2,785,203 over the last three months. 1.50% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in ROG. Mutual of America Capital Management LLC boosted its stake in Rogers by 0.3% in the third quarter. Mutual of America Capital Management LLC now owns 80,730 shares of the electronics maker’s stock valued at $4,931,000 after buying an additional 206 shares during the period. Investment Counselors of Maryland LLC boosted its stake in Rogers by 9.9% in the third quarter. Investment Counselors of Maryland LLC now owns 357,803 shares of the electronics maker’s stock valued at $21,855,000 after buying an additional 32,260 shares during the period. Mycio Wealth Partners LLC boosted its stake in Rogers by 17.7% in the third quarter. Mycio Wealth Partners LLC now owns 60,529 shares of the electronics maker’s stock valued at $3,697,000 after buying an additional 9,118 shares during the period. JPMorgan Chase & Co. boosted its stake in Rogers by 103.4% in the third quarter. JPMorgan Chase & Co. now owns 29,263 shares of the electronics maker’s stock valued at $1,787,000 after buying an additional 14,874 shares during the period. Finally, BlackRock Inc. boosted its stake in Rogers by 3.2% in the third quarter. BlackRock Inc. now owns 4,079 shares of the electronics maker’s stock valued at $249,000 after buying an additional 126 shares during the period. Institutional investors own 93.17% of the company’s stock.
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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