Rogers Corporation (ROG) Earns “Buy” Rating from B. Riley
Rogers Corporation (NYSE:ROG)‘s stock had its “buy” rating restated by B. Riley in a report issued on Tuesday. They currently have a $147.00 price target on the electronics maker’s stock. B. Riley’s target price would indicate a potential upside of 24.12% from the company’s current price.
The analysts wrote, “We believe execution around this strategy is showing visible gains in 2017 and expect Mgt to retain its focus. For example, autonomous vehicles, vehicle to vehicle communications, advanced 4.5G and 5G infrastructure, the IoT, energy efficient vehicles, and OLED are all high growth areas well-suited to ROG technology. We expect the company to gradually but increasingly align the sub-segment focus within Advanced Connectivity Solutions (ACS; 42% of sls), Elastomeric Materials Solutions (EMS; 31%), and Power Electronics Solutions (23%) taking related sales toward 60% over time. Recall market share is often a dominant 50% to 90% in areas like macro base station and antenna substrates, electronic vehicle battery foams and compartment silicon sealing, and automated driver assist radar systems to often surpass the next competitor by 2-3x, a broad competitive moat.””
A number of other research firms have also recently issued reports on ROG. BidaskClub raised Rogers Corporation from a “hold” rating to a “buy” rating in a research note on Saturday. Needham & Company LLC restated a “buy” rating and issued a $135.00 price target (up from $115.00) on shares of Rogers Corporation in a report on Wednesday, August 2nd. Zacks Investment Research lowered Rogers Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 28th. Sidoti reiterated a “buy” rating and set a $125.00 target price (up previously from $120.00) on shares of Rogers Corporation in a report on Monday, June 19th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Rogers Corporation in a report on Tuesday, May 23rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Rogers Corporation presently has a consensus rating of “Buy” and an average target price of $132.25.
Rogers Corporation (NYSE ROG) traded down 0.69% on Tuesday, hitting $117.61. The stock had a trading volume of 16,349 shares. Rogers Corporation has a 1-year low of $51.98 and a 1-year high of $123.38. The firm’s 50-day moving average price is $114.21 and its 200-day moving average price is $98.28. The firm has a market cap of $2.14 billion, a P/E ratio of 28.36 and a beta of 1.16.
Rogers Corporation (NYSE:ROG) last released its earnings results on Monday, July 31st. The electronics maker reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.13. The company had revenue of $201.40 million during the quarter, compared to the consensus estimate of $195.60 million. Rogers Corporation had a return on equity of 13.28% and a net margin of 10.21%. The firm’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. On average, equities research analysts predict that Rogers Corporation will post $5.55 earnings per share for the current year.
In other news, Director Peter C. Wallace sold 2,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $107.28, for a total value of $214,560.00. Following the completion of the transaction, the director now directly owns 14,300 shares in the company, valued at approximately $1,534,104. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert C. Daigle sold 4,485 shares of the stock in a transaction on 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 a total of 7,335 shares of company stock valued at $854,089 over the last quarter. 1.50% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning raised its position in shares of Rogers Corporation by 6,455.6% in the second quarter. Creative Planning now owns 1,180 shares of the electronics maker’s stock valued at $128,000 after buying an additional 1,162 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Rogers Corporation during the first quarter valued at about $106,000. Victory Capital Management Inc. raised its position in shares of Rogers Corporation by 17.5% in the second quarter. Victory Capital Management Inc. now owns 1,414 shares of the electronics maker’s stock valued at $154,000 after buying an additional 211 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Rogers Corporation during the first quarter valued at about $123,000. Finally, Riverhead Capital Management LLC raised its position in shares of Rogers Corporation by 87.4% in the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the electronics maker’s stock valued at $163,000 after buying an additional 699 shares in the last quarter. 93.36% of the stock is owned by institutional investors and hedge funds.
Rogers Corporation Company Profile
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.
Receive News & Ratings for Rogers Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Corporation and related companies with MarketBeat.com's FREE daily email newsletter.