Roper Technologies (ROP) Raised to “Buy” at Zacks Investment Research
Roper Technologies (NYSE:ROP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $309.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.22% from the stock’s current price.
According to Zacks, “Roper shares have outperformed the industry in the past one-year. The company has an optimum mix of highly engineered and niche-oriented products, which help it to gain market share. Moreover, Roper's unique asset light business model not only lowers its dependence on large-scale production equipment but also helps it to generate strong cash flow quickly. This coupled with improving balance sheet is helping it to pursue strategic acquisitions. Successful integration of the acquisitions has contributed meaningfully to the top line and margins. Furthermore, Roper holds a dominant position in most of the markets where it operates. However, sluggish global macroeconomic conditions and stiff competition remain headwinds. “
ROP has been the topic of several other reports. Wells Fargo & Co set a $310.00 target price on Roper Technologies and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird boosted their target price on Roper Technologies from $238.00 to $257.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. Cowen reissued a “buy” rating and issued a $250.00 target price on shares of Roper Technologies in a report on Thursday, October 12th. Oppenheimer boosted their target price on Roper Technologies from $257.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. Finally, Royal Bank of Canada boosted their target price on Roper Technologies from $259.00 to $282.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $263.75.
Roper Technologies (NYSE:ROP) last announced its earnings results on Monday, October 30th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.30 by $0.06. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Roper Technologies had a return on equity of 14.47% and a net margin of 16.17%. Roper Technologies’s revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 EPS. sell-side analysts anticipate that Roper Technologies will post 9.31 EPS for the current fiscal year.
In other Roper Technologies news, Director Robert E. Knowling, Jr. sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $259.51, for a total transaction of $1,038,040.00. Following the transaction, the director now owns 14,038 shares of the company’s stock, valued at approximately $3,643,001.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christopher Wright sold 250 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $258.64, for a total value of $64,660.00. Following the transaction, the director now directly owns 64,450 shares in the company, valued at approximately $16,669,348. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,759 shares of company stock worth $53,547,538. Company insiders own 2.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. First Manhattan Co. acquired a new position in Roper Technologies during the 4th quarter worth $431,000. Chevy Chase Trust Holdings Inc. lifted its holdings in Roper Technologies by 1.8% during the 4th quarter. Chevy Chase Trust Holdings Inc. now owns 205,757 shares of the industrial products company’s stock worth $53,290,000 after buying an additional 3,649 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Roper Technologies by 3.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 21,469 shares of the industrial products company’s stock worth $5,560,000 after buying an additional 677 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Roper Technologies by 126.5% during the 4th quarter. State of Alaska Department of Revenue now owns 13,608 shares of the industrial products company’s stock worth $3,522,000 after buying an additional 7,600 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Roper Technologies by 5.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 351,772 shares of the industrial products company’s stock worth $91,109,000 after buying an additional 18,500 shares in the last quarter. 93.48% of the stock is currently owned by hedge funds and other institutional investors.
Roper Technologies Company Profile
Roper Technologies, Inc is a technology company. The Company operates businesses that design and develop software and engineered products and solutions for various end markets, including healthcare, transportation, commercial construction, food, energy, water, education and academic research. The Company operates in four segments: Medical & Scientific Imaging, which offers products and software in medical applications, and digital imaging products; RF Technology, which provides radio frequency identification (RFID) communication technology and software solutions; Industrial Technology, which produces fluid handling pumps, materials analysis equipment and consumables, leak testing equipment, flow measurement and metering equipment, and Energy Systems & Controls, which produces control systems, fluid properties testing equipment, industrial valves and controls, vibration sensors and controls, and non-destructive inspection and measurement products and solutions.
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