Roper Technologies (ROP) Rating Increased to Buy at Zacks Investment Research

Roper Technologies (NYSE:ROP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $309.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.93% from the stock’s current price.

According to Zacks, “Roper shares have outperformed the industry in the past one-year. The company has an optimum mix of highly engineered and niche-oriented products, which help it to gain market share. Moreover, Roper's unique asset light business model not only lowers its dependence on large-scale production equipment but also helps it to generate strong cash flow quickly. This coupled with improving balance sheet is helping it to pursue strategic acquisitions. Successful integration of the acquisitions has contributed meaningfully to the top line and margins. Furthermore, Roper holds a dominant position in most of the markets where it operates.  However, sluggish global macroeconomic conditions and stiff competition remain headwinds.                                                             “

ROP has been the topic of a number of other reports. Oppenheimer increased their price objective on shares of Roper Technologies from $257.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Cowen reissued a “buy” rating and issued a $250.00 price objective on shares of Roper Technologies in a research report on Thursday, October 12th. Royal Bank of Canada increased their price objective on shares of Roper Technologies from $259.00 to $282.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Robert W. Baird increased their price objective on shares of Roper Technologies from $238.00 to $257.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Finally, Wells Fargo & Co set a $310.00 price objective on shares of Roper Technologies and gave the company a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $263.75.

Shares of Roper Technologies (ROP) traded up $0.38 on Monday, reaching $276.07. 318,858 shares of the company traded hands, compared to its average volume of 351,543. Roper Technologies has a 1 year low of $185.12 and a 1 year high of $277.41. The stock has a market cap of $28,260.00, a P/E ratio of 40.13, a P/E/G ratio of 2.19 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.94 and a current ratio of 1.07.

Roper Technologies (NYSE:ROP) last announced its earnings results on Monday, October 30th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.06. Roper Technologies had a net margin of 16.17% and a return on equity of 14.47%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm earned $1.65 EPS. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. research analysts predict that Roper Technologies will post 9.31 earnings per share for the current year.

In other news, CEO Brian D. Jellison sold 81,500 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $259.63, for a total value of $21,159,845.00. Following the completion of the transaction, the chief executive officer now owns 1,448,575 shares in the company, valued at approximately $376,093,527.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Christopher Wright sold 250 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $258.64, for a total transaction of $64,660.00. Following the completion of the transaction, the director now owns 64,450 shares of the company’s stock, valued at approximately $16,669,348. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,759 shares of company stock valued at $53,547,538. Company insiders own 2.50% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Harding Loevner LP boosted its holdings in shares of Roper Technologies by 293.8% in the 3rd quarter. Harding Loevner LP now owns 5,925,422 shares of the industrial products company’s stock valued at $358,642,000 after buying an additional 4,420,649 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Roper Technologies by 0.8% in the 3rd quarter. American Century Companies Inc. now owns 1,292,795 shares of the industrial products company’s stock valued at $314,666,000 after buying an additional 10,548 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Roper Technologies by 7.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,074,847 shares of the industrial products company’s stock valued at $261,618,000 after buying an additional 72,673 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Roper Technologies by 309.5% in the 2nd quarter. Janus Henderson Group PLC now owns 909,777 shares of the industrial products company’s stock valued at $210,649,000 after buying an additional 687,588 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Roper Technologies by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 781,985 shares of the industrial products company’s stock valued at $190,335,000 after buying an additional 14,690 shares in the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.

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Roper Technologies Company Profile

Roper Technologies, Inc is a technology company. The Company operates businesses that design and develop software and engineered products and solutions for various end markets, including healthcare, transportation, commercial construction, food, energy, water, education and academic research. The Company operates in four segments: Medical & Scientific Imaging, which offers products and software in medical applications, and digital imaging products; RF Technology, which provides radio frequency identification (RFID) communication technology and software solutions; Industrial Technology, which produces fluid handling pumps, materials analysis equipment and consumables, leak testing equipment, flow measurement and metering equipment, and Energy Systems & Controls, which produces control systems, fluid properties testing equipment, industrial valves and controls, vibration sensors and controls, and non-destructive inspection and measurement products and solutions.

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