Rogers (ROG) Rating Lowered to Hold at ValuEngine

Rogers (NYSE:ROG) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other brokerages have also recently commented on ROG. BidaskClub upgraded shares of Rogers from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. B. Riley reiterated a “buy” rating and issued a $147.00 target price on shares of Rogers in a report on Tuesday, August 15th. Zacks Investment Research upgraded shares of Rogers from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a report on Friday, August 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $165.00 target price on shares of Rogers in a report on Friday, November 3rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Rogers has a consensus rating of “Buy” and an average target price of $160.25.

Rogers (ROG) opened at $158.17 on Friday. Rogers has a fifty-two week low of $72.13 and a fifty-two week high of $168.07. The company has a market cap of $2,885.65, a PE ratio of 29.51 and a beta of 1.16. The company has a quick ratio of 2.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.18.

Rogers (NYSE:ROG) last announced its 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. Rogers had a net margin of 10.88% and a return on equity of 14.22%. The company had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $198.16 million. During the same period last year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was up 25.1% on a year-over-year basis. sell-side analysts predict that Rogers will post 5.85 EPS for the current year.

In related news, SVP Robert C. Daigle sold 2,074 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $125.02, for a total transaction of $259,291.48. Following the completion of the sale, the senior vice president now directly owns 25,565 shares in the company, valued at $3,196,136.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Robert C. Daigle sold 683 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $124.00, for a total transaction of $84,692.00. Following the sale, the senior vice president now owns 25,612 shares of the company’s stock, valued at $3,175,888. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,327 shares of company stock valued at $4,191,128. 1.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. boosted its holdings in shares of Rogers by 178.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 782 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 501 shares during the period. Quantbot Technologies LP lifted its stake in Rogers by 852.9% in the third quarter. Quantbot Technologies LP now owns 1,134 shares of the electronics maker’s stock valued at $151,000 after acquiring an additional 1,015 shares during the last quarter. Creative Planning lifted its stake in Rogers by 6,455.6% in the second quarter. Creative Planning now owns 1,180 shares of the electronics maker’s stock valued at $128,000 after acquiring an additional 1,162 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Rogers by 17.5% in the second quarter. Victory Capital Management Inc. now owns 1,414 shares of the electronics maker’s stock valued at $154,000 after acquiring an additional 211 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in Rogers by 87.4% in the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the electronics maker’s stock valued at $163,000 after acquiring an additional 699 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

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About Rogers

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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