Shares of Rogers Corporation (NYSE:ROG) have received a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $134.25.
A number of analysts have recently issued reports on ROG shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Rogers Corporation in a report on Tuesday, May 23rd. BidaskClub upgraded Rogers Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. B. Riley reiterated a “buy” rating and set a $147.00 target price on shares of Rogers Corporation in a report on Tuesday, August 15th. Needham & Company LLC reiterated a “buy” rating and set a $135.00 target price (up previously from $115.00) on shares of Rogers Corporation in a report on Wednesday, August 2nd. Finally, Sidoti reiterated a “buy” rating and set a $125.00 target price (up previously from $120.00) on shares of Rogers Corporation in a report on Monday, June 19th.
Shares of Rogers Corporation (NYSE ROG) opened at 127.90 on Wednesday. The firm has a market cap of $2.32 billion, a PE ratio of 30.84 and a beta of 1.15. Rogers Corporation has a 12 month low of $51.98 and a 12 month high of $128.00. The stock’s 50 day moving average is $118.88 and its 200 day moving average is $105.01.
Rogers Corporation (NYSE:ROG) last issued its earnings results on Monday, July 31st. The electronics maker reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.13. Rogers Corporation had a return on equity of 13.28% and a net margin of 10.21%. The business had revenue of $201.40 million during the quarter, compared to analysts’ expectations of $195.60 million. During the same quarter in the previous year, the business earned $0.88 EPS. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. On average, analysts anticipate that Rogers Corporation will post $5.55 earnings per share for the current fiscal year.
In other Rogers Corporation news, SVP Jeffrey M. Grudzien sold 3,042 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $114.08, for a total value of $347,031.36. Following the transaction, the senior vice president now directly owns 28,022 shares of the company’s stock, valued at approximately $3,196,749.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Robert C. Daigle sold 545 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $127.82, for a total value of $69,661.90. Following the completion of the transaction, the senior vice president now directly owns 23,362 shares in the company, valued at $2,986,130.84. The disclosure for this sale can be found here. Insiders have sold a total of 14,329 shares of company stock worth $1,710,959 over the last three months. 1.50% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ROG. SG Americas Securities LLC acquired a new position in shares of Rogers Corporation in the 1st quarter valued at approximately $106,000. Ameritas Investment Partners Inc. acquired a new position in shares of Rogers Corporation in the 1st quarter valued at approximately $123,000. Creative Planning raised its position in shares of Rogers Corporation by 6,455.6% in the 2nd quarter. Creative Planning now owns 1,180 shares of the electronics maker’s stock valued at $128,000 after purchasing an additional 1,162 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Rogers Corporation by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,414 shares of the electronics maker’s stock valued at $154,000 after purchasing an additional 211 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its position in shares of Rogers Corporation by 87.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,499 shares of the electronics maker’s stock valued at $163,000 after purchasing an additional 699 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.
Rogers Corporation 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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