Rogers (NYSE:ROG) Stock Price Target Lowered at B. Riley Financial

Key Points

• B. Riley cut Rogers’ price target from $195 to $180 but maintained a Buy rating; the new target implies about 39% upside from the stock’s current price.
• Analyst views are mixed, though MarketBeat’s consensus rating is Buy with a $180 target: two analysts rate Rogers Strong Buy, one Buy, and one Sell.
• Rogers reported quarterly EPS of $1.39, beating the $1.19 estimate, while revenue of $236.1 million fell short of the $238 million consensus.

Rogers (NYSE:ROG - Get Free Report) had its price objective reduced by equities research analysts at B. Riley Financial from $195.00 to $180.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the electronics maker's stock. B. Riley Financial's price objective indicates a potential upside of 39.35% from the stock's current price.

ROG has been the subject of a number of other reports. Zacks Research upgraded shares of Rogers from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 28th. Freedom Broker upgraded Rogers to a "strong-buy" rating in a research note on Thursday, October 1st. Weiss Ratings downgraded Rogers from a "hold (c)" rating to a "sell (d+)" rating in a research note on Wednesday, October 28th. Finally, Wall Street Zen raised Rogers from a "hold" rating to a "buy" rating in a report on Saturday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $180.00.

Rogers Stock Up 5.9%

Shares of ROG stock traded up $7.21 during trading hours on Monday, hitting $129.17. 12,741 shares of the company's stock traded hands, compared to its average volume of 233,400. The stock's fifty day simple moving average is $135.90 and its two-hundred day simple moving average is $128.06. Rogers has a 12-month low of $75.14 and a 12-month high of $169.00. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 50.77 and a beta of 0.42.

Rogers (NYSE:ROG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The electronics maker reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.20. The firm had revenue of $236.10 million during the quarter, compared to analyst estimates of $238.00 million. Rogers had a return on equity of 5.89% and a net margin of 5.30%. On average, equities analysts forecast that Rogers will post 4.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Rogers in the second quarter worth approximately $556,493,000. Leeward Investments LLC MA grew its position in Rogers by 4.7% during the third quarter. Leeward Investments LLC MA now owns 328,731 shares of the electronics maker's stock valued at $50,293,000 after buying an additional 14,872 shares during the period. Atreides Management LP purchased a new stake in Rogers during the second quarter valued at approximately $30,996,000. Bank of America Corp DE purchased a new stake in Rogers during the second quarter valued at approximately $22,859,000. Finally, Bank of New York Mellon Corp purchased a new stake in Rogers during the second quarter valued at approximately $18,012,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

About Rogers

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