Rogers Corporation’s (ROG) “Buy” Rating Reiterated at Needham & Company LLC
Rogers Corporation (NYSE:ROG)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a note issued to investors on Friday. They currently have a $165.00 price target on the electronics maker’s stock. Needham & Company LLC’s target price points to a potential upside of 8.10% from the company’s current price.
A number of other research firms have also weighed in on ROG. BidaskClub raised Rogers Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. B. Riley reissued a “buy” rating and issued a $147.00 target price on shares of Rogers Corporation in a research note on Tuesday, August 15th. Finally, Zacks Investment Research raised Rogers Corporation from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Friday, August 18th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Rogers Corporation presently has an average rating of “Buy” and an average target price of $150.00.
Rogers Corporation (NYSE:ROG) traded up $0.76 during trading hours on Friday, reaching $152.64. The company had a trading volume of 261,565 shares, compared to its average volume of 165,509. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.12 and a quick ratio of 3.16. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 27.09 and a beta of 1.14.
Rogers Corporation (NYSE:ROG) last issued its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.15. Rogers Corporation had a return on equity of 14.60% and a net margin of 10.88%. The firm had revenue of $206.80 million during the quarter, compared to analyst estimates of $198.16 million. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue was up 25.1% compared to the same quarter last year. analysts expect that Rogers Corporation will post 5.5 EPS for the current year.
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In related news, Director Carol R. Jensen sold 3,500 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $115.79, for a total transaction of $405,265.00. Following the transaction, the director now owns 10,088 shares in the company, valued at approximately $1,168,089.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bruce D. Hoechner sold 23,200 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $133.23, for a total value of $3,090,936.00. The disclosure for this sale can be found here. In the last three months, insiders sold 35,981 shares of company stock valued at $4,644,611. 1.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Alps Advisors Inc. grew its holdings in shares of Rogers Corporation by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 5,891 shares of the electronics maker’s stock worth $640,000 after acquiring an additional 16 shares during the period. HighTower Advisors LLC grew its stake in shares of Rogers Corporation by 0.7% in the 1st quarter. HighTower Advisors LLC now owns 5,842 shares of the electronics maker’s stock worth $502,000 after buying an additional 42 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Rogers Corporation by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the electronics maker’s stock valued at $804,000 after acquiring an additional 100 shares in the last quarter. Amalgamated Bank lifted its position in Rogers Corporation by 4.6% in the 2nd quarter. Amalgamated Bank now owns 2,530 shares of the electronics maker’s stock valued at $275,000 after acquiring an additional 111 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in Rogers Corporation by 10.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,584 shares of the electronics maker’s stock valued at $172,000 after acquiring an additional 147 shares in the last quarter. Institutional investors own 93.53% 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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