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Zacks Investment Research Downgrades Rogers (NYSE:ROG) to Strong Sell

Thursday, October 14, 2021 | MarketBeat

Rogers (NYSE:ROG) was downgraded by Zacks Investment Research from a "hold" rating to a "strong sell" rating in a report released on Thursday, Zacks.com reports.

According to Zacks, "Rogers Corporation is a global leader in engineered materials to power, protect, and connect their world. With more than 180 years of materials science experience, Rogers delivers high-performance solutions that enable clean energy, internet connectivity, and safety and protection applications, as well as other technologies where reliability is critical. Rogers delivers Power Electronics Solutions for energy-efficient motor drives, e-Mobility and renewable energy; Elastomeric Material Solutions for sealing, vibration management and impact protection in mobile devices, transportation interiors, industrial equipment and performance apparel; and Advanced Connectivity Solutions for wireless infrastructure, automotive safety and radar systems. Headquartered in Arizona (USA), Rogers operates manufacturing facilities in the United States, China, Germany, Belgium, Hungary, and South Korea, with joint ventures and sales offices worldwide. "

Separately, Canaccord Genuity dropped their price target on shares of Rogers from $260.00 to $233.00 and set a "buy" rating for the company in a research note on Friday, July 30th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat.com, Rogers presently has an average rating of "Buy" and an average target price of $229.33.

ROG opened at $183.69 on Thursday. The firm has a market capitalization of $3.44 billion, a P/E ratio of 42.13 and a beta of 1.78. The firm's 50 day moving average is $195.32 and its 200-day moving average is $193.24. Rogers has a 52-week low of $99.66 and a 52-week high of $215.02.

Rogers (NYSE:ROG) last posted its quarterly earnings data on Thursday, July 29th. The electronics maker reported $1.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.88 by ($0.16). The firm had revenue of $234.91 million for the quarter, compared to analysts' expectations of $235.75 million. Rogers had a net margin of 9.36% and a return on equity of 12.14%. As a group, analysts forecast that Rogers will post 7.27 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in ROG. Cullen Frost Bankers Inc. acquired a new position in Rogers in the second quarter worth $25,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Rogers during the second quarter valued at $49,000. Lazard Asset Management LLC acquired a new position in shares of Rogers during the first quarter valued at $51,000. Sageworth Trust Co acquired a new position in shares of Rogers during the first quarter valued at $68,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Rogers during the second quarter valued at $73,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

About Rogers

Rogers Corp. engages in the design, development, manufacture, and sale of engineered materials and components for mission critical applications. It operates through the following segments: Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES), and Other.

Further Reading: What is Liquidity?

Get a free copy of the Zacks research report on Rogers (ROG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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