Rogers (NYSE:ROG) Stock Price Breaks Above 50-Day Moving Average – What’s Next?

Shares of Rogers Corporation (NYSE:ROG) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $135.63 and traded as high as $151.70. Rogers shares last traded at $140.0750, with a volume of 415,349 shares trading hands.

Rogers News Roundup

Here are the key news stories impacting Rogers this week:

• Positive Sentiment: Zacks upgraded Rogers Corporation from “hold” to “strong-buy,” providing a potentially meaningful boost to investor sentiment and signaling greater confidence in the company’s earnings outlook. Zacks upgrades Rogers to strong-buy
• Positive Sentiment: Rogers reported quarterly EPS of $1.39, ahead of the $1.19 analyst consensus. The earnings beat helped drive earlier strength in the shares and supports the case for improving profitability. Rogers shares gap up following better-than-expected earnings
• Neutral Sentiment: The company’s quarterly revenue of $236.1 million was slightly below the $238 million consensus estimate. This creates a mixed earnings picture: profitability exceeded expectations, while top-line demand was somewhat softer than forecast.
• Neutral Sentiment: Rogers published its third-quarter earnings presentation, giving investors additional information on operating performance and management’s outlook. Rogers Corporation third-quarter results presentation
• Negative Sentiment: The stock’s recent weakness may reflect profit-taking and valuation concerns after a strong rebound. Rogers trades at a relatively high earnings multiple, while its revenue miss could make investors more sensitive to signs of slowing demand.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Freedom Broker raised shares of Rogers to a “strong-buy” rating in a report on Thursday, October 1st. Weiss Ratings downgraded Rogers from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday. Zacks Research raised Rogers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. B. Riley Financial decreased their target price on Rogers from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Finally, Wall Street Zen cut shares of Rogers from a “buy” rating to a “hold” rating in a research report on Monday, August 31st. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $195.00.

Rogers Stock Down 5.5%

The stock has a market capitalization of $2.36 billion, a P/E ratio of 52.43 and a beta of 0.43. The firm has a fifty day moving average price of $135.96 and a two-hundred day moving average price of $127.41.

Rogers (NYSE:ROG) last released its quarterly earnings data on Tuesday, October 27th. The electronics maker reported $1.39 EPS for the quarter, topping the consensus estimate of $1.19 by $0.20. The company had revenue of $236.10 million during the quarter, compared to the consensus estimate of $238.00 million. Rogers had a return on equity of 5.89% and a net margin of 5.30%. Sell-side analysts anticipate that Rogers Corporation will post 4.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rogers

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in Rogers in the 2nd quarter worth about $18,012,000. Engineers Gate Manager LP boosted its position in Rogers by 214.0% in the 2nd quarter. Engineers Gate Manager LP now owns 9,742 shares of the electronics maker’s stock valued at $1,595,000 after buying an additional 6,639 shares during the period. Hsbc Holdings PLC boosted its position in Rogers by 145.6% in the 2nd quarter. Hsbc Holdings PLC now owns 40,685 shares of the electronics maker’s stock valued at $6,707,000 after buying an additional 24,118 shares during the period. BlackRock Inc. purchased a new stake in Rogers in the 2nd quarter valued at about $556,493,000. Finally, Virtus Advisers LLC bought a new position in Rogers in the 2nd quarter worth about $1,001,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Rogers Company Profile

Rogers Corporation (NYSE: ROG) is a global manufacturer of engineered materials and specialty components used in demanding applications. The company develops high-performance elastomers, polymer composites, laminates and other material technologies designed to provide electrical insulation, thermal management, vibration control, protection and reliability.

Its products are used in electric and hybrid vehicles, power electronics, telecommunications and 5G infrastructure, aerospace and defense systems, healthcare equipment, renewable energy systems and various industrial applications.