Rogers’ (ROG) “Buy” Rating Reiterated at B. Riley
Rogers (NYSE:ROG)‘s stock had its “buy” rating reaffirmed by analysts at B. Riley in a report released on Friday. They presently have a $180.00 target price on the electronics maker’s stock. B. Riley’s target price indicates a potential upside of 14.96% from the stock’s previous close.
A number of other brokerages have also weighed in on ROG. Zacks Investment Research raised shares of Rogers from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a report on Friday, August 18th. Needham & Company LLC reissued a “buy” rating and issued a $165.00 price target on shares of Rogers in a report on Friday, November 3rd. Finally, ValuEngine lowered shares of Rogers from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $160.25.
Rogers (NYSE ROG) traded down $1.57 during midday trading on Friday, hitting $156.57. 100,800 shares of the stock traded hands, compared to its average volume of 129,339. The firm has a market capitalization of $2,885.09, a price-to-earnings ratio of 29.50 and a beta of 1.16. The company has a current ratio of 3.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.18. Rogers has a 12 month low of $74.24 and a 12 month high of $168.07.
In other Rogers news, insider Bruce D. Hoechner sold 23,200 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $133.23, for a total value of $3,090,936.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jeffrey M. Grudzien sold 1,888 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $158.27, for a total transaction of $298,813.76. Following the completion of the transaction, the senior vice president now directly owns 24,192 shares in the company, valued at $3,828,867.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,570 shares of company stock worth $3,847,144. Insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its position in shares of Rogers by 178.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 782 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 501 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Rogers by 852.9% during the third quarter. Quantbot Technologies LP now owns 1,134 shares of the electronics maker’s stock worth $151,000 after purchasing an additional 1,015 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Rogers by 17.5% during the second quarter. Victory Capital Management Inc. now owns 1,414 shares of the electronics maker’s stock worth $154,000 after purchasing an additional 211 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of Rogers by 87.4% during the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the electronics maker’s stock worth $163,000 after purchasing an additional 699 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new position in shares of Rogers during the second quarter worth $163,000. 93.26% of the stock is currently owned by institutional investors.
Rogers 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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