Rogers (ROG) Downgraded by Zacks Investment Research to “Hold”
Rogers (NYSE:ROG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday, January 4th.
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. “
A number of other research firms have also recently issued reports on ROG. Needham & Company LLC lifted their target price on shares of Rogers to $180.00 and gave the company a “positive” rating in a research note on Tuesday, December 19th. ValuEngine cut shares of Rogers from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, B. Riley restated a “buy” rating and issued a $180.00 price objective on shares of Rogers in a research note on Friday, December 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $164.00.
Rogers (NYSE:ROG) last posted its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $1.41 EPS for the quarter, topping the consensus estimate of $1.26 by $0.15. The business had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $198.16 million. Rogers had a net margin of 10.88% and a return on equity of 14.22%. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. 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 business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $158.27, for a total value of $298,813.76. Following the sale, the senior vice president now owns 24,192 shares of the company’s stock, valued at approximately $3,828,867.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Rogers by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,636,085 shares of the electronics maker’s stock worth $177,712,000 after purchasing an additional 82,322 shares during the last quarter. Neuberger Berman Group LLC lifted its position in Rogers by 2.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,565,202 shares of the electronics maker’s stock worth $208,610,000 after buying an additional 31,667 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Rogers by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,049,565 shares of the electronics maker’s stock worth $114,004,000 after buying an additional 5,406 shares in the last quarter. Northern Trust Corp lifted its position in Rogers by 3.4% during the 2nd quarter. Northern Trust Corp now owns 618,786 shares of the electronics maker’s stock worth $67,212,000 after buying an additional 20,253 shares in the last quarter. Finally, Conestoga Capital Advisors LLC lifted its position in Rogers by 13.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 514,288 shares of the electronics maker’s stock worth $83,274,000 after buying an additional 62,305 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.
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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