Rogers (ROG) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Rogers (NYSE:ROG) from a sell rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Rogers Corporation is a global leader in engineered materials to power, protect, and connect their world. With more than 180 years of materials science experience, Rogers delivers high-performance solutions that enable clean energy, internet connectivity, and safety and protection applications, as well as other technologies where reliability is critical. Rogers delivers Power Electronics Solutions for energy-efficient motor drives, e-Mobility and renewable energy; Elastomeric Material Solutions for sealing, vibration management and impact protection in mobile devices, transportation interiors, industrial equipment and performance apparel; and Advanced Connectivity Solutions for wireless infrastructure, automotive safety and radar systems. Headquartered in Arizona (USA), Rogers operates manufacturing facilities in the United States, China, Germany, Belgium, Hungary, and South Korea, with joint ventures and sales offices worldwide. “
Other analysts also recently issued research reports about the stock. B. Riley reduced their target price on shares of Rogers from $180.00 to $155.00 and set a buy rating for the company in a report on Friday, April 27th. ValuEngine downgraded shares of Rogers from a hold rating to a sell rating in a report on Thursday, May 3rd.
Rogers (NYSE:ROG) last announced its quarterly earnings data on Tuesday, July 31st. The electronics maker reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.14). Rogers had a net margin of 8.99% and a return on equity of 13.02%. The firm had revenue of $214.68 million during the quarter, compared to the consensus estimate of $214.33 million. During the same period last year, the business earned $1.33 EPS. The business’s revenue was up 6.6% on a year-over-year basis. research analysts forecast that Rogers will post 5.47 earnings per share for the current fiscal year.
In related news, SVP Jeffrey M. Grudzien sold 1,751 shares of Rogers stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $131.11, for a total transaction of $229,573.61. Following the completion of the sale, the senior vice president now owns 22,992 shares of the company’s stock, valued at approximately $3,014,481.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in ROG. Janus Henderson Group PLC boosted its holdings in shares of Rogers by 124.3% during the 2nd quarter. Janus Henderson Group PLC now owns 959,893 shares of the electronics maker’s stock worth $106,990,000 after buying an additional 531,945 shares during the period. BlackRock Inc. boosted its holdings in shares of Rogers by 10.0% during the 2nd quarter. BlackRock Inc. now owns 2,536,309 shares of the electronics maker’s stock worth $282,697,000 after buying an additional 230,796 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Rogers by 1,503.9% during the 1st quarter. Thrivent Financial for Lutherans now owns 181,123 shares of the electronics maker’s stock worth $21,652,000 after buying an additional 169,830 shares during the period. Artisan Partners Limited Partnership boosted its holdings in shares of Rogers by 102.2% during the 1st quarter. Artisan Partners Limited Partnership now owns 227,224 shares of the electronics maker’s stock worth $27,162,000 after buying an additional 114,835 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Rogers by 6,357.7% during the 1st quarter. Victory Capital Management Inc. now owns 100,417 shares of the electronics maker’s stock worth $12,004,000 after buying an additional 98,862 shares during the period. 95.56% of the stock is owned by institutional investors and hedge funds.
Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. The company's Advanced Connectivity Solutions segment offers circuit materials and solutions for connectivity applications in wireless communications infrastructure, automotive, connected devices, wired infrastructure, consumer electronics, and aerospace/defense.
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