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

Rogers (NYSE:ROG) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

Several other equities analysts also recently weighed in on ROG. Wall Street Zen downgraded shares of Rogers from a “buy” rating to a “hold” rating in a report on Monday, August 31st. Freedom Broker raised shares of Rogers to a “strong-buy” rating in a research report on Thursday, October 1st. B. Riley Financial reduced their target price on shares of Rogers from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Finally, Weiss Ratings cut shares of Rogers from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $195.00.

Rogers Trading Down 0.6%

NYSE:ROG opened at $139.93 on Wednesday. The company has a market capitalization of $2.50 billion, a P/E ratio of 55.31 and a beta of 0.43. Rogers has a 12 month low of $75.14 and a 12 month high of $169.00. The firm has a fifty day simple moving average of $135.84 and a 200-day simple moving average of $127.22.

Rogers (NYSE:ROG) last released its earnings results on Tuesday, October 27th. The electronics maker reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.20. The firm had revenue of $236.10 million for the quarter, compared to the consensus estimate of $238.00 million. Rogers had a return on equity of 5.89% and a net margin of 5.30%. Equities analysts forecast that Rogers will post 4.06 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ROG. BlackRock Inc. purchased a new position in shares of Rogers during the 2nd quarter valued at approximately $556,493,000. Leeward Investments LLC MA boosted its holdings in Rogers by 4.7% during the third quarter. Leeward Investments LLC MA now owns 328,731 shares of the electronics maker’s stock worth $50,293,000 after buying an additional 14,872 shares in the last quarter. Atreides Management LP acquired a new stake in Rogers during the second quarter valued at $30,996,000. Bank of America Corp DE acquired a new stake in Rogers during the second quarter valued at $22,859,000. Finally, Bank of New York Mellon Corp purchased a new position in Rogers in the second quarter valued at $18,012,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Rogers

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

About Rogers

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.