Rogers (ROG) Price Target Raised to $180.00 at Needham & Company LLC

Rogers (NYSE:ROG) had its target price lifted by research analysts at Needham & Company LLC to $180.00 in a research note issued on Tuesday. The firm currently has a “positive” rating on the electronics maker’s stock. Needham & Company LLC’s target price indicates a potential upside of 10.42% from the company’s previous close.

Several other research firms have also recently commented on ROG. B. Riley increased their price objective on Rogers from $147.00 to $180.00 and gave the company a “buy” rating in a research report on Sunday, November 5th. Zacks Investment Research cut Rogers from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, ValuEngine cut Rogers from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $164.00.

Shares of Rogers (NYSE ROG) opened at $163.01 on Tuesday. The company has a current ratio of 3.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.18. Rogers has a 12-month low of $74.24 and a 12-month high of $168.07. The company has a market capitalization of $2,933.81, a price-to-earnings ratio of 30.00 and a beta of 1.16.

Rogers (NYSE:ROG) last released its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $1.41 EPS for the quarter, beating the consensus estimate of $1.26 by $0.15. Rogers had a return on equity of 14.22% and a net margin of 10.88%. The company had revenue of $206.80 million for the quarter, compared to analysts’ expectations of $198.16 million. During the same period last year, the firm posted $0.86 earnings per share. Rogers’s revenue was up 25.1% compared to the same quarter last year. research analysts predict that Rogers will post 5.85 EPS for the current fiscal year.

In other Rogers news, SVP Jeffrey M. Grudzien sold 1,888 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $158.27, for a total value of $298,813.76. Following the transaction, the senior vice president now owns 24,192 shares of the company’s stock, valued at $3,828,867.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert C. Daigle sold 454 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $130.61, for a total value of $59,296.94. Following the completion of the transaction, the senior vice president now directly owns 22,452 shares in the company, valued at approximately $2,932,455.72. The disclosure for this sale can be found here. In the last three months, insiders sold 28,025 shares of company stock worth $3,777,483. 1.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of ROG. BNP Paribas Arbitrage SA raised its stake in shares of Rogers by 431.6% in the second quarter. BNP Paribas Arbitrage SA now owns 19,642 shares of the electronics maker’s stock worth $2,134,000 after buying an additional 15,947 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Rogers in the second quarter worth about $1,521,000. Timpani Capital Management LLC bought a new position in shares of Rogers in the second quarter worth about $1,234,000. Legal & General Group Plc raised its stake in shares of Rogers by 8.8% in the second quarter. Legal & General Group Plc now owns 35,403 shares of the electronics maker’s stock worth $3,845,000 after buying an additional 2,877 shares during the period. Finally, Chatham Capital Group Inc. raised its stake in shares of Rogers by 10.6% in the second quarter. Chatham Capital Group Inc. now owns 14,950 shares of the electronics maker’s stock worth $1,624,000 after buying an additional 1,428 shares during the period. 93.22% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Rogers (NYSE:ROG)

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