Rogers (NYSE:ROG) Stock Bumped Up to Strong-Buy by Zacks Research

Zacks Research upgraded shares of Rogers (NYSE:ROG) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks reports.

A number of other brokerages have also weighed in on ROG. Freedom Broker upgraded shares of Rogers to a “strong-buy” rating in a research note on Thursday, October 1st. Wall Street Zen downgraded Rogers from a “buy” rating to a “hold” rating in a research note on Monday, August 31st. Weiss Ratings lowered Rogers from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday. Finally, B. Riley Financial cut their price objective on Rogers from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rogers currently has a consensus rating of “Buy” and a consensus price target of $195.00.

Rogers Stock Down 0.6%

Shares of NYSE ROG opened at $139.93 on Wednesday. The firm’s 50-day moving average price is $135.84 and its 200-day moving average price is $127.22. Rogers has a 52-week low of $75.14 and a 52-week high of $169.00. The company has a market cap of $2.50 billion, a PE ratio of 55.31 and a beta of 0.43.

Rogers (NYSE:ROG) last released its quarterly earnings data on Tuesday, October 27th. The electronics maker reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.20. The firm had revenue of $236.10 million during the quarter, compared to analysts’ expectations of $238.00 million. Rogers had a net margin of 5.30% and a return on equity of 5.89%. As a group, equities research analysts anticipate that Rogers will post 4.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Rogers in the second quarter worth $556,493,000. Leeward Investments LLC MA raised its position in shares of Rogers by 4.7% during the 3rd quarter. Leeward Investments LLC MA now owns 328,731 shares of the electronics maker’s stock valued at $50,293,000 after purchasing an additional 14,872 shares during the period. Atreides Management LP bought a new stake in shares of Rogers during the 2nd quarter valued at $30,996,000. Bank of America Corp DE purchased a new position in shares of Rogers during the 2nd quarter valued at $22,859,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Rogers during the 2nd quarter valued at $18,012,000. Institutional investors own 96.02% of the company’s stock.

Key Headlines Impacting Rogers

Here are the key news stories impacting Rogers this week:

• Positive Sentiment: Rogers Corporation reported third-quarter earnings of $1.39 per share, exceeding the $1.19 analyst consensus. The improvement was supported by significant profit-margin expansion and potential demand from artificial-intelligence applications, helping drive the stock’s sharp opening advance. Why Rogers Stock Popped 13% at the Open Before Cooling Off
• Positive Sentiment: Quarterly revenue was $236.1 million. While slightly below the $238 million estimate, the earnings beat and advance in quarterly income appear to have outweighed the modest sales shortfall. Rogers Corp Announces Advance in Q3 Income
• Neutral Sentiment: Analysts and financial commentary note that ROG has rebounded substantially and may now trade above estimated fair value. With a reported price-to-earnings ratio above 55, further gains may depend on sustained earnings growth rather than the latest quarterly beat. Rogers Stock Looks Above Fair Value After Its 56% Rebound
• Neutral Sentiment: Several other articles refer to Michigan Senate candidate Mike Rogers, Rogers Communications, or customers of Rogers Communications. Those stories do not concern Rogers Corporation and should not be treated as catalysts for NYSE: ROG.
• Neutral Sentiment: A $15 million Canadian penalty involving marketing of “Infinite” wireless plans applies to Rogers Communications, not Rogers Corporation. It therefore has no direct financial effect on ROG. Rogers Hit With $15M Fine Over Deceptive Marketing

About Rogers

Rogers Corporation (NYSE: ROG) is a global manufacturer of engineered materials and specialty components used in demanding applications. The company develops high-performance elastomers, polymer composites, laminates and other material technologies designed to provide electrical insulation, thermal management, vibration control, protection and reliability.

Its products are used in electric and hybrid vehicles, power electronics, telecommunications and 5G infrastructure, aerospace and defense systems, healthcare equipment, renewable energy systems and various industrial applications.