Roper Technologies Inc (NYSE:ROP) Receives “Buy” Rating from Royal Bank Of Canada

Roper Technologies Inc (NYSE:ROP)‘s stock had its “buy” rating reiterated by investment analysts at Royal Bank Of Canada in a report issued on Wednesday, July 12th. They presently have a $248.00 price objective on the industrial products company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 8.04% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $242.00 target price on shares of Roper Technologies in a research report on Friday, July 7th. Raymond James Financial, Inc. upped their price objective on shares of Roper Technologies from $253.00 to $268.00 in a research report on Wednesday, July 5th. Zacks Investment Research raised shares of Roper Technologies from a “hold” rating to a “buy” rating and set a $259.00 price objective for the company in a research report on Tuesday, July 4th. Barclays PLC upped their price objective on shares of Roper Technologies from $221.00 to $237.00 and gave the stock an “overweight” rating in a research report on Monday, May 1st. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $250.00 price objective (up previously from $220.00) on shares of Roper Technologies in a research report on Monday, April 17th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $238.42.

Shares of Roper Technologies (NYSE ROP) opened at 229.54 on Wednesday. The firm has a 50-day moving average of $233.98 and a 200 day moving average of $218.33. The stock has a market capitalization of $23.46 billion, a PE ratio of 34.37 and a beta of 1.04. Roper Technologies has a 1-year low of $167.50 and a 1-year high of $238.49.

Roper Technologies (NYSE:ROP) last announced its earnings results on Monday, July 31st. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.22 by $0.02. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Roper Technologies had a net margin of 15.82% and a return on equity of 11.83%. Roper Technologies’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.56 earnings per share. On average, equities analysts anticipate that Roper Technologies will post $9.27 earnings per share for the current fiscal year.

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In other Roper Technologies news, Director Wilbur J. Prezzano sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $235.80, for a total transaction of $471,600.00. Following the completion of the sale, the director now owns 22,000 shares of the company’s stock, valued at approximately $5,187,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher Wright sold 1,800 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $228.70, for a total transaction of $411,660.00. Following the sale, the director now directly owns 66,104 shares of the company’s stock, valued at approximately $15,117,984.80. The disclosure for this sale can be found here. Insiders sold 5,800 shares of company stock valued at $1,353,200 in the last ninety days. 2.50% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. Numeric Investors LLC bought a new stake in shares of Roper Technologies during the fourth quarter valued at approximately $915,000. Quadrature Capital Ltd bought a new stake in shares of Roper Technologies during the fourth quarter valued at approximately $4,950,000. Teachers Advisors LLC increased its stake in shares of Roper Technologies by 50.8% in the fourth quarter. Teachers Advisors LLC now owns 342,533 shares of the industrial products company’s stock valued at $62,711,000 after buying an additional 115,326 shares during the period. Kentucky Retirement Systems bought a new stake in shares of Roper Technologies during the fourth quarter valued at approximately $1,347,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Roper Technologies during the fourth quarter valued at approximately $601,000. 96.93% of the stock is owned by institutional investors.

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