B. Riley Reaffirms Buy Rating for Rogers Corporation (ROG)
Rogers Corporation (NYSE:ROG)‘s stock had its “buy” rating reiterated by stock analysts at B. Riley in a research note issued on Sunday. They currently have a $147.00 price objective on the electronics maker’s stock. B. Riley’s price objective would suggest a potential upside of 27.63% from the stock’s previous close.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Rogers Corporation from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Friday. BidaskClub raised Rogers Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Needham & Company LLC reissued a “buy” rating and set a $135.00 price target (up from $115.00) on shares of Rogers Corporation in a research report on Wednesday, August 2nd. Sidoti reaffirmed a “buy” rating and issued a $125.00 target price (up from $120.00) on shares of Rogers Corporation in a research report on Monday, June 19th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Rogers Corporation in a research report on Tuesday, May 23rd. Eight analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $134.25.
Rogers Corporation (NYSE:ROG) opened at 115.18 on Friday. Rogers Corporation has a 52-week low of $51.98 and a 52-week high of $123.38. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 27.77 and a beta of 1.16. The company has a 50-day moving average of $115.07 and a 200-day moving average of $99.04.
Rogers Corporation (NYSE:ROG) last posted its quarterly earnings results on Monday, July 31st. The electronics maker reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.13. The business had revenue of $201.40 million for the quarter, compared to analyst estimates of $195.60 million. Rogers Corporation had a return on equity of 13.28% and a net margin of 10.21%. The business’s revenue was up 27.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. Equities research analysts expect that Rogers Corporation will post $5.55 EPS for the current year.
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In other Rogers Corporation news, Director Keith Barnes sold 850 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $111.19, for a total value of $94,511.50. Following the sale, the director now directly owns 2,850 shares of the company’s stock, valued at $316,891.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the director now directly owns 14,300 shares in the company, valued at $1,534,104. The disclosure for this sale can be found here. Insiders sold 7,335 shares of company stock worth $854,089 over the last ninety days. 1.50% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Creative Planning raised its stake 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 acquired a new position in shares of Rogers Corporation during the first quarter worth approximately $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 worth $154,000 after buying an additional 211 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Rogers Corporation during the first quarter worth approximately $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 worth $163,000 after buying an additional 699 shares during the period. 93.36% of the stock is currently owned by hedge funds and other institutional investors.
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.
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