Zacks Investment Research Lowers Rogers (ROG) to Sell

Zacks Investment Research cut shares of Rogers (NYSE:ROG) from a hold rating to a sell rating in a report released on Tuesday morning.

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. “

Several other analysts have also recently weighed in on ROG. B. Riley lowered their price objective on shares of Rogers from $155.00 to $150.00 and set a buy rating on the stock in a research report on Wednesday, August 1st. ValuEngine upgraded shares of Rogers from a hold rating to a buy rating in a research report on Tuesday, August 28th. Finally, Sidoti restated a buy rating and set a $175.00 price objective on shares of Rogers in a research report on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Rogers presently has an average rating of Hold and an average target price of $176.67.

Shares of Rogers stock traded down $1.32 on Tuesday, hitting $119.90. 90,854 shares of the company traded hands, compared to its average volume of 115,606. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.22 and a current ratio of 4.39. The stock has a market cap of $2.33 billion, a P/E ratio of 23.20 and a beta of 1.66. Rogers has a 12-month low of $105.60 and a 12-month high of $184.00.

Rogers (NYSE:ROG) last posted its quarterly earnings data on Thursday, November 1st. The electronics maker reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.11. The firm had revenue of $226.90 million for the quarter, compared to analysts’ expectations of $224.89 million. Rogers had a net margin of 8.11% and a return on equity of 12.78%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. On average, analysts predict that Rogers will post 5.36 earnings per share for the current year.

In related news, insider Bruce D. Hoechner sold 4,500 shares of Rogers stock in a transaction on Monday, September 24th. The shares were sold at an average price of $150.04, for a total value of $675,180.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jay B. Knoll sold 1,250 shares of Rogers stock in a transaction on Friday, September 28th. The stock was sold at an average price of $151.58, for a total transaction of $189,475.00. Following the completion of the transaction, the senior vice president now owns 7,007 shares in the company, valued at approximately $1,062,121.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,712 shares of company stock worth $3,176,122. Corporate insiders own 1.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. Janus Henderson Group PLC raised its position in Rogers by 124.3% in the 2nd quarter. Janus Henderson Group PLC now owns 959,893 shares of the electronics maker’s stock worth $106,990,000 after purchasing an additional 531,945 shares during the period. WINTON GROUP Ltd purchased a new position in Rogers in the 2nd quarter worth $226,000. Northern Trust Corp raised its position in Rogers by 0.7% in the 2nd quarter. Northern Trust Corp now owns 433,278 shares of the electronics maker’s stock worth $48,293,000 after purchasing an additional 3,091 shares during the period. Bank of America Corp DE raised its position in Rogers by 108.7% in the 2nd quarter. Bank of America Corp DE now owns 62,306 shares of the electronics maker’s stock worth $6,945,000 after purchasing an additional 32,446 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in Rogers by 0.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 228,701 shares of the electronics maker’s stock worth $25,491,000 after purchasing an additional 1,477 shares during the period. Institutional investors own 94.58% of the company’s stock.

About Rogers

Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. The company's Advanced Connectivity Solutions segment offers circuit materials and solutions for connectivity applications in wireless communications infrastructure, automotive, connected devices, wired infrastructure, consumer electronics, and aerospace/defense.

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