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Rogers (NYSE:ROG) Raised to Hold at Zacks Investment Research

Last updated on Tuesday, June 30, 2020 | 2020 MarketBeat

Rogers (NYSE:ROG) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research note issued to investors on Tuesday, 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. "

A number of other research firms have also recently commented on ROG. ValuEngine cut shares of Rogers from a "buy" rating to a "hold" rating in a report on Thursday, April 2nd. B. Riley upped their price objective on shares of Rogers from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of "Buy" and a consensus price target of $131.67.

NYSE ROG opened at $120.84 on Tuesday. The company's 50-day moving average price is $110.64 and its 200-day moving average price is $112.27. The company has a current ratio of 6.38, a quick ratio of 5.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $2.22 billion, a PE ratio of 70.67 and a beta of 1.78. Rogers has a 12 month low of $75.72 and a 12 month high of $183.34.

Rogers (NYSE:ROG) last posted its quarterly earnings results on Thursday, April 30th. The electronics maker reported $0.92 EPS for the quarter, topping the Zacks' consensus estimate of $0.83 by $0.09. The firm had revenue of $198.81 million for the quarter, compared to analysts' expectations of $189.50 million. Rogers had a net margin of 3.75% and a return on equity of 10.57%. As a group, sell-side analysts forecast that Rogers will post 4.41 earnings per share for the current year.

In other Rogers news, Director Keith Barnes sold 425 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $111.00, for a total transaction of $47,175.00. Following the completion of the sale, the director now directly owns 4,725 shares of the company's stock, valued at $524,475. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jeff Tsao sold 305 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $105.49, for a total transaction of $32,174.45. Following the sale, the vice president now directly owns 2,566 shares of the company's stock, valued at $270,687.34. The disclosure for this sale can be found here. 1.09% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. raised its position in shares of Rogers by 3.4% in the 4th quarter. Citigroup Inc. now owns 12,733 shares of the electronics maker's stock valued at $1,589,000 after purchasing an additional 414 shares during the last quarter. Wrapmanager Inc. raised its position in shares of Rogers by 78.1% in the 1st quarter. Wrapmanager Inc. now owns 3,471 shares of the electronics maker's stock valued at $328,000 after purchasing an additional 1,522 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Rogers by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 142,123 shares of the electronics maker's stock valued at $17,728,000 after purchasing an additional 3,663 shares during the last quarter. FDx Advisors Inc. raised its position in shares of Rogers by 3,473.6% in the 1st quarter. FDx Advisors Inc. now owns 72,829 shares of the electronics maker's stock valued at $6,158,000 after purchasing an additional 70,791 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Rogers by 52.9% in the 1st quarter. Deutsche Bank AG now owns 16,195 shares of the electronics maker's stock valued at $1,529,000 after purchasing an additional 5,604 shares during the last quarter. 97.13% of the stock is owned by institutional investors and hedge funds.

Rogers Company Profile

Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. It operates in Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES), and Other segments. The ACS segment offers circuit materials and solutions for connectivity applications in wireless infrastructure, automotive, aerospace and defense, connected devices, wired infrastructure, and consumer electronics under the RO3000, RO4000, RT/duroid, TMM, AD Series, and CLTE Series names.

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