Rogers (NYSE:ROG) Stock Rating Upgraded by Zacks Research

Rogers (NYSE:ROG) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

A number of other brokerages have also recently commented on ROG. Wall Street Zen cut Rogers from a “buy” rating to a “hold” rating in a research report on Monday, August 31st. Freedom Broker raised Rogers to a “strong-buy” rating in a research report on Thursday, October 1st. Weiss Ratings cut Rogers from a “hold (c)” rating to a “sell (d+)” rating in a research 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 research note on Thursday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $195.00.

Rogers Price Performance

Shares of ROG stock opened at $139.93 on Wednesday. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 55.31 and a beta of 0.43. Rogers has a 1 year low of $75.14 and a 1 year high of $169.00. The firm has a fifty day moving average price of $135.84 and a 200-day moving average price of $127.22.

Rogers (NYSE:ROG) last announced its earnings results on Tuesday, October 27th. The electronics maker reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.20. The company had revenue of $236.10 million for the quarter, compared to analysts’ expectations of $238.00 million. Rogers had a return on equity of 5.89% and a net margin of 5.30%. Equities research analysts expect that Rogers will post 4.06 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROG. BlackRock Inc. purchased a new stake in Rogers during the 2nd quarter valued at approximately $556,493,000. Atreides Management LP purchased a new position in shares of Rogers in the second quarter worth $30,996,000. Bank of America Corp DE purchased a new position in shares of Rogers in the second quarter worth $22,859,000. Bank of New York Mellon Corp purchased a new position in shares of Rogers in the second quarter worth $18,012,000. Finally, Man Group plc bought a new position in shares of Rogers during the second quarter worth $7,720,000. 96.02% of the stock is currently owned by institutional investors.

Rogers News Summary

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

Rogers Company Profile

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.