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

Rogers (NYSE:ROG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

Several other research firms also recently issued reports on ROG. ValuEngine downgraded Rogers from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. B. Riley restated a “buy” rating on shares of Rogers in a report on Monday, October 28th. Finally, Stifel Nicolaus set a $170.00 price target on Rogers and gave the stock a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $187.25.

ROG stock opened at $137.96 on Tuesday. The company has a current ratio of 4.36, a quick ratio of 3.05 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.72 billion, a PE ratio of 21.96 and a beta of 2.15. Rogers has a 12-month low of $89.21 and a 12-month high of $206.43. The business’s fifty day moving average price is $142.00 and its 200 day moving average price is $151.32.

Rogers (NYSE:ROG) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.15. The firm had revenue of $221.80 million for the quarter, compared to the consensus estimate of $229.67 million. Rogers had a return on equity of 14.13% and a net margin of 10.84%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 EPS. Research analysts predict that Rogers will post 6.05 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new stake in Rogers during the 2nd quarter worth about $25,000. Point72 Hong Kong Ltd purchased a new stake in Rogers during the 2nd quarter worth about $39,000. Quest Capital Management Inc. ADV purchased a new stake in Rogers during the 3rd quarter worth about $58,000. Creative Planning purchased a new stake in Rogers during the 2nd quarter worth about $201,000. Finally, Courier Capital LLC purchased a new stake in Rogers during the 2nd quarter worth about $207,000. Institutional investors own 97.00% of the company’s stock.

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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