Rogers Corporation (ROG) Upgraded by Zacks Investment Research to Buy

Rogers Corporation (NYSE:ROG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $130.00 price objective on the electronics maker’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.10% from the stock’s previous close.

According to Zacks, “Rogers Corporation manufactures and sells specialty polymer composite materials and components which it develops for growing markets and applications around the world. The company has two business segments: Polymer Materials and Electronic Materials. The company’s products are based on its core technologies in polymers, fillers, and adhesion. Most products are proprietary, or incorporate proprietary technology in their development and processing, and are sold under the company’s valuable brand names. “

Other research analysts also recently issued reports about the company. B. Riley reiterated a “buy” rating and issued a $120.00 target price on shares of Rogers Corporation in a research note on Monday, July 31st. Royal Bank Of Canada reiterated an “outperform” rating on shares of Rogers Corporation in a research note on Tuesday, May 23rd. BidaskClub downgraded Rogers Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Sidoti reiterated a “buy” rating and issued a $125.00 target price (up from $120.00) on shares of Rogers Corporation in a research note on Monday, June 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Rogers Corporation in a research note on Wednesday, August 2nd. Eight analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $134.25.

Rogers Corporation (NYSE:ROG) opened at 114.94 on Friday. The firm has a 50-day moving average price of $114.88 and a 200-day moving average price of $98.78. The firm has a market capitalization of $2.09 billion, a P/E ratio of 27.72 and a beta of 1.16. Rogers Corporation has a one year low of $51.98 and a one year high of $123.38.

Rogers Corporation (NYSE:ROG) last released its quarterly earnings results on Monday, July 31st. The electronics maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.13. Rogers Corporation had a return on equity of 13.28% and a net margin of 10.21%. The firm had revenue of $201.40 million for the quarter, compared to the consensus estimate of $195.60 million. During the same quarter last year, the business posted $0.88 EPS. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. Equities analysts anticipate that Rogers Corporation will post $5.55 earnings per share for the current year.

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In other news, Director Peter C. Wallace sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $107.28, for a total value of $214,560.00. Following the completion of the sale, the director now directly owns 14,300 shares of the company’s stock, valued at approximately $1,534,104. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith Barnes sold 850 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $111.19, for a total value of $94,511.50. Following the completion of the sale, the director now directly owns 2,850 shares of the company’s stock, valued at $316,891.50. The disclosure for this sale can be found here. Insiders sold a total of 7,335 shares of company stock worth $854,089 over the last quarter. Company insiders own 1.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of ROG. BlackRock Inc. boosted its stake in Rogers Corporation by 60,174.9% in the first quarter. BlackRock Inc. now owns 2,189,786 shares of the electronics maker’s stock valued at $188,037,000 after buying an additional 2,186,153 shares in the last quarter. Vanguard Group Inc. boosted its stake in Rogers Corporation by 5.3% in the second quarter. Vanguard Group Inc. now owns 1,636,085 shares of the electronics maker’s stock valued at $177,712,000 after buying an additional 82,322 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Rogers Corporation by 1.9% in the second quarter. Neuberger Berman Group LLC now owns 1,533,535 shares of the electronics maker’s stock valued at $166,573,000 after buying an additional 28,911 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Rogers Corporation by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,049,565 shares of the electronics maker’s stock valued at $114,004,000 after buying an additional 5,406 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Rogers Corporation by 3.4% in the second quarter. Northern Trust Corp now owns 618,786 shares of the electronics maker’s stock valued at $67,212,000 after buying an additional 20,253 shares in the last quarter. 93.36% of the stock is owned by institutional investors and hedge funds.

About Rogers Corporation

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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