Roper Technologies Inc. (ROP) Downgraded by Zacks Investment Research
According to Zacks, “Roper Technologies' business has been affected because of the weakness in the oil and gas sector. In addition, unexpected project delays in certain traffic and toll projects are weighing on its financials. Roper also expects its business to be negatively impacted by Brexit and other macroeconomic headwinds. As a result in the last quarter, the company slashed its guidance for 2016. Nonetheless, the company’s asset-light business model and robust M&A activity will likely provide some respite in the long run. The company's strong dividend policy is also an added positive.”
A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. raised shares of Roper Technologies from an underweight rating to a neutral rating and set a $157.00 target price for the company in a research note on Monday, August 1st. RBC Capital Markets reaffirmed an outperform rating and issued a $196.00 price target (down from $205.00) on shares of Roper Technologies in a research note on Tuesday, July 26th. Barclays PLC reduced their price target on shares of Roper Technologies from $198.00 to $192.00 and set an overweight rating for the company in a research note on Tuesday, July 26th. Royal Bank Of Canada reduced their price target on shares of Roper Technologies from $205.00 to $196.00 and set an outperform rating for the company in a research note on Tuesday, July 26th. Finally, Raymond James Financial Inc. assumed coverage on shares of Roper Technologies in a research note on Wednesday, July 20th. They issued a strong-buy rating and a $206.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $194.40.
Shares of Roper Technologies (NYSE:ROP) opened at 177.19 on Wednesday. Roper Technologies has a 12 month low of $150.91 and a 12 month high of $195.93. The firm has a market cap of $17.96 billion, a price-to-earnings ratio of 26.65 and a beta of 1.03. The company’s 50-day moving average is $174.57 and its 200-day moving average is $174.50.
Roper Technologies (NYSE:ROP) last posted its earnings results on Monday, July 25th. The company reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by $0.05. The firm had revenue of $932 million for the quarter, compared to analyst estimates of $948.22 million. Roper Technologies had a net margin of 18.53% and a return on equity of 12.37%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.70 earnings per share. On average, equities research analysts forecast that Roper Technologies will post $6.60 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.68%. Roper Technologies’s dividend payout ratio is currently 18.05%.
In other news, Director Robert E. Knowling, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $171.54, for a total transaction of $686,160.00. Following the sale, the director now owns 14,038 shares in the company, valued at $2,408,078.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert D. Johnson sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $173.41, for a total transaction of $242,774.00. Following the sale, the director now owns 10,500 shares in the company, valued at approximately $1,820,805. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Roper Technologies during the fourth quarter valued at $198,222,000. Point72 Asset Management L.P. raised its position in Roper Technologies by 936.2% in the second quarter. Point72 Asset Management L.P. now owns 492,200 shares of the company’s stock valued at $83,950,000 after buying an additional 444,700 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Roper Technologies by 79.2% in the second quarter. Artisan Partners Limited Partnership now owns 816,763 shares of the company’s stock valued at $139,307,000 after buying an additional 360,946 shares in the last quarter. Swedbank raised its position in Roper Technologies by 23.2% in the second quarter. Swedbank now owns 1,636,269 shares of the company’s stock valued at $279,082,000 after buying an additional 307,759 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Roper Technologies by 78.1% in the first quarter. Goldman Sachs Group Inc. now owns 671,958 shares of the company’s stock valued at $122,814,000 after buying an additional 294,767 shares in the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.
About Roper Technologies
Roper Technologies, Inc, formerly Roper Industries, Inc, is a technology company. The Company operates businesses that design and develop software and engineered products and solutions for a range of end markets, including healthcare, transportation, food, energy, water, education and academic research.
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