Roper Technologies, Inc. (ROP) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Roper Technologies, Inc. (NYSE:ROP) from a hold rating to a buy rating in a report issued on Monday. They currently have $273.00 target price on the industrial products company’s stock.
According to Zacks, “Roper’s asset-light business model and a strong product portfolio will boost financial performance in the long run. Also, acquisitions especially ConstructConnect and Deltek will continue to play an important role in boosting Roper’s performance. In 2016, Roper spent nearly $3.7 billion on these acquisitions. Winning of key projects like New York City’s MTA project are long term growth drivers. Consequently, Roper also raised guidance for the year. Strong dividend policy is also a positive. Shares have vastly outperformed the broader industry. However, stiff competition and a leveraged balance sheet remain overhangs.”
Other equities analysts have also recently issued reports about the company. Raymond James Financial, Inc. lifted their price objective on Roper Technologies from $253.00 to $268.00 in a report on Wednesday, July 5th. BidaskClub cut Roper Technologies from a strong-buy rating to a buy rating in a report on Monday, July 24th. Royal Bank Of Canada reaffirmed a buy rating and set a $248.00 price objective on shares of Roper Technologies in a report on Wednesday, July 12th. Stifel Nicolaus reaffirmed a buy rating and set a $242.00 price objective on shares of Roper Technologies in a report on Friday, July 7th. Finally, Canaccord Genuity reaffirmed a hold rating and set a $225.00 price objective on shares of Roper Technologies in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $244.17.
Shares of Roper Technologies (ROP) opened at 251.02 on Monday. The company’s 50 day moving average price is $237.00 and its 200 day moving average price is $227.29. Roper Technologies has a 12 month low of $167.50 and a 12 month high of $251.53. The stock has a market capitalization of $25.66 billion, a PE ratio of 37.58 and a beta of 1.04.
Roper Technologies (NYSE:ROP) last issued its quarterly earnings data on Monday, July 31st. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.02. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Roper Technologies had a return on equity of 13.66% and a net margin of 16.44%. Roper Technologies’s revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.56 earnings per share. Equities analysts anticipate that Roper Technologies will post $9.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.56%. The ex-dividend date is Thursday, October 5th. Roper Technologies’s payout ratio is 20.96%.
In other news, VP Jason Conley sold 5,000 shares of Roper Technologies stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $245.00, for a total value of $1,225,000.00. Following the completion of the sale, the vice president now owns 14,571 shares of the company’s stock, valued at $3,569,895. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert D. Johnson sold 2,000 shares of Roper Technologies stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $234.97, for a total value of $469,940.00. Following the completion of the sale, the director now directly owns 10,900 shares of the company’s stock, valued at approximately $2,561,173. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock valued at $2,754,530 in the last three months. 2.50% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. Independent Portfolio Consultants Inc. grew its position in shares of Roper Technologies by 164.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 503 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 313 shares during the period. Parallel Advisors LLC grew its position in shares of Roper Technologies by 26.8% in the second quarter. Parallel Advisors LLC now owns 502 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 106 shares during the period. Private Advisor Group LLC purchased a new stake in shares of Roper Technologies in the first quarter valued at $118,000. Tower Research Capital LLC TRC grew its position in shares of Roper Technologies by 34.8% in the second quarter. Tower Research Capital LLC TRC now owns 589 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 152 shares during the period. Finally, WFG Advisors LP grew its position in shares of Roper Technologies by 55.8% in the first quarter. WFG Advisors LP now owns 785 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 281 shares during the period. 94.18% of the stock is owned by institutional investors and hedge funds.
About Roper Technologies
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