Zacks Investment Research Lowers Rogers (ROG) to Hold

Rogers (NYSE:ROG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “Rogers Corporation designs, develops, manufactures and sells high-quality and high-reliability engineered materials and components for mission critical applications. We operate principally three strategic business segments – Advanced Connectivity Solutions, Elastomeric Material Solutions and Power Electronics Solutions. “

ROG has been the subject of several other research reports. B. Riley reissued a “buy” rating and set a $180.00 price objective (up previously from $147.00) on shares of Rogers in a report on Monday, October 30th. Needham & Company LLC boosted their price objective on Rogers to $180.00 and gave the stock a “positive” rating in a report on Tuesday, December 19th. Finally, ValuEngine lowered Rogers from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $164.00.

Shares of Rogers (NYSE ROG) traded down $3.33 during midday trading on Thursday, hitting $168.56. The stock had a trading volume of 967,700 shares, compared to its average volume of 654,250. Rogers has a 52 week low of $76.20 and a 52 week high of $184.00. The company has a quick ratio of 2.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $3,080.00, a price-to-earnings ratio of 36.48 and a beta of 1.17.

Rogers (NYSE:ROG) last issued its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.15. Rogers had a return on equity of 14.22% and a net margin of 10.88%. The company 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 firm earned $0.86 earnings per share. Rogers’s revenue was up 25.1% on a year-over-year basis. analysts anticipate that Rogers will post 5.85 EPS for the current year.

In other Rogers news, SVP Jeffrey M. Grudzien sold 1,888 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $158.27, for a total value of $298,813.76. Following the completion of the sale, the senior vice president now owns 24,192 shares of the company’s stock, valued at $3,828,867.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Atlantic Trust Group LLC purchased a new stake in Rogers in the third quarter worth approximately $1,250,000. Shelton Capital Management purchased a new stake in Rogers in the third quarter worth approximately $217,000. Public Employees Retirement System of Ohio boosted its stake in Rogers by 7,101.7% in the third quarter. Public Employees Retirement System of Ohio now owns 59,414 shares of the electronics maker’s stock worth $7,919,000 after buying an additional 58,589 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Rogers in the third quarter worth approximately $633,000. Finally, Algert Global LLC boosted its stake in Rogers by 115.7% in the third quarter. Algert Global LLC now owns 14,195 shares of the electronics maker’s stock worth $1,892,000 after buying an additional 7,615 shares in the last quarter. 93.22% of the stock is owned by institutional investors and hedge funds.

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About Rogers

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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