Rogers Co. (NYSE:ROG) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 606,300 shares, a drop of 17.2% from the June 30th total of 732,600 shares. Based on an average daily volume of 217,100 shares, the days-to-cover ratio is currently 2.8 days. Approximately 3.3% of the company’s shares are short sold.

Several equities analysts have commented on the company. Stifel Nicolaus assumed coverage on Rogers in a research report on Thursday, May 30th. They issued a “buy” rating and a $200.00 target price for the company. B. Riley increased their target price on Rogers from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. ValuEngine downgraded Rogers from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded Rogers from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $190.80.

Several institutional investors and hedge funds have recently modified their holdings of ROG. Meeder Asset Management Inc. bought a new position in shares of Rogers during the second quarter worth about $25,000. Private Capital Group LLC grew its stake in Rogers by 48.6% during the first quarter. Private Capital Group LLC now owns 214 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 70 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Rogers during the second quarter worth approximately $39,000. Ellis Investment Partners LLC acquired a new stake in Rogers during the first quarter worth approximately $104,000. Finally, Creative Planning acquired a new stake in Rogers during the second quarter worth approximately $201,000. Institutional investors own 99.15% of the company’s stock.

Shares of ROG traded down $4.28 during mid-day trading on Wednesday, reaching $133.00. 165,048 shares of the company were exchanged, compared to its average volume of 184,753. Rogers has a 52 week low of $89.21 and a 52 week high of $206.43. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.52 and a quick ratio of 3.33. The company has a market capitalization of $2.49 billion, a PE ratio of 23.05 and a beta of 2.16. The stock has a 50 day simple moving average of $158.80.

Rogers (NYSE:ROG) last issued its quarterly earnings data on Wednesday, July 31st. The electronics maker reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.09. Rogers had a return on equity of 14.33% and a net margin of 10.39%. The company had revenue of $242.90 million during the quarter, compared to the consensus estimate of $244.90 million. During the same period last year, the company earned $1.19 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. Equities research analysts predict that Rogers will post 6.3 EPS for the current fiscal year.

Rogers Company Profile

Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. It operates in Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES), and Other segments. The ACS segment offers circuit materials and solutions for connectivity applications in wireless infrastructure, automotive, aerospace and defense, connected devices, wired infrastructure, and consumer electronics under the RO3000, RO4000, RT/duroid, TMM, AD Series, and CLTE Series names.

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