Rogers (NYSE:ROG) Shares Gap Up on Earnings Beat

Rogers Co. (NYSE:ROG)’s share price gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $59.43, but opened at $61.73. Rogers shares last traded at $59.86, with a volume of 10,715 shares changing hands.

The electronics maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $190.50 million for the quarter, compared to analyst estimates of $187.50 million. Rogers had a net margin of 3.14% and a return on equity of 3.98%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. CL King started coverage on Rogers in a research report on Monday, March 31st. They set a “buy” rating and a $85.00 price target on the stock. B. Riley raised their price target on Rogers from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday.

Institutional Trading of Rogers

Several hedge funds have recently made changes to their positions in ROG. Bank of Montreal Can increased its position in Rogers by 6.2% in the 4th quarter. Bank of Montreal Can now owns 2,022 shares of the electronics maker’s stock valued at $205,000 after acquiring an additional 118 shares during the period. Inspire Investing LLC increased its position in shares of Rogers by 5.7% during the 4th quarter. Inspire Investing LLC now owns 4,327 shares of the electronics maker’s stock valued at $440,000 after purchasing an additional 232 shares during the period. CWM LLC increased its position in shares of Rogers by 11.8% during the 1st quarter. CWM LLC now owns 2,271 shares of the electronics maker’s stock valued at $153,000 after purchasing an additional 240 shares during the period. GAMMA Investing LLC increased its position in shares of Rogers by 243.5% during the 1st quarter. GAMMA Investing LLC now owns 371 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 263 shares during the period. Finally, Bridge City Capital LLC increased its position in shares of Rogers by 1.6% during the 1st quarter. Bridge City Capital LLC now owns 20,208 shares of the electronics maker’s stock valued at $1,365,000 after purchasing an additional 314 shares during the period. Institutional investors own 96.02% of the company’s stock.

Rogers Trading Up 2.6 %

The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 45.00 and a beta of 0.51. The firm has a 50-day moving average price of $67.07 and a 200-day moving average price of $88.55.

Rogers Company Profile

Rogers Corporation engages in the design, development, manufacture, and sale of engineered materials and components worldwide. It operates through Advanced Electronics Solutions (AES), Elastomeric Material Solutions (EMS), and Other segments. The AES segment offers circuit materials, ceramic substrate materials, busbars, and cooling solutions for applications in electric and hybrid electric vehicles (EV/HEV), wireless infrastructure, automotive, renewable energy, aerospace and defense, mass transit, industrial, connected devices, and wired infrastructure.