Royal Bank of Canada Lowers Roper Technologies (NYSE:ROP) Price Target to $680.00

Roper Technologies (NYSE:ROP) had its target price cut by equities researchers at Royal Bank of Canada from $696.00 to $680.00 in a report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 32.95% from the stock’s previous close.

Several other research firms have also commented on ROP. Barclays increased their price target on shares of Roper Technologies from $596.00 to $600.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Raymond James boosted their price target on Roper Technologies from $572.00 to $620.00 and gave the stock a “strong-buy” rating in a report on Friday, February 2nd. Oppenheimer increased their price objective on Roper Technologies from $580.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Mizuho boosted their target price on shares of Roper Technologies from $525.00 to $530.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Wells Fargo & Company raised their price target on shares of Roper Technologies from $560.00 to $615.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $579.83.

Roper Technologies Price Performance

Shares of NYSE:ROP opened at $511.46 on Monday. Roper Technologies has a 12 month low of $441.06 and a 12 month high of $565.00. The firm has a market capitalization of $54.74 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 2.77 and a beta of 0.99. The business’s 50 day simple moving average is $543.76 and its 200-day simple moving average is $534.01. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.49 and a quick ratio of 0.45.

Roper Technologies (NYSE:ROP) last posted its earnings results on Friday, April 26th. The industrial products company reported $4.41 earnings per share for the quarter, beating the consensus estimate of $4.34 by $0.07. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. Roper Technologies had a return on equity of 10.75% and a net margin of 23.21%. Roper Technologies’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.90 earnings per share. As a group, equities analysts forecast that Roper Technologies will post 18.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Christopher Wright sold 200 shares of Roper Technologies stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $549.71, for a total value of $109,942.00. Following the transaction, the director now directly owns 35,547 shares of the company’s stock, valued at approximately $19,540,541.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.94% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ROP. OFI Invest Asset Management purchased a new position in Roper Technologies in the third quarter valued at about $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Roper Technologies during the 3rd quarter valued at about $27,000. Rise Advisors LLC acquired a new position in Roper Technologies during the 1st quarter worth approximately $27,000. Independence Bank of Kentucky acquired a new stake in Roper Technologies in the fourth quarter valued at approximately $31,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Roper Technologies during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Roper Technologies Company Profile

Roper Technologies, Inc designs and develops software, and technology enabled products and solutions. It operates through three segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment offers management, campus solutions, diagnostic and laboratory information management, enterprise software and information solutions, transportation management, financial and compliance management, and cloud-based financial analytics and performance management software; cloud-based software to the property and casualty insurance industry; and software, services, and technologies for foodservice operations.