Rogers Co. (NYSE:ROG) Receives Average Rating of “Hold” from Brokerages

Shares of Rogers Co. (NYSE:ROGGet Rating) have earned an average recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $277.00.

A number of research analysts recently weighed in on the stock. TheStreet downgraded shares of Rogers from a “b” rating to a “c+” rating in a research report on Friday, April 29th. StockNews.com initiated coverage on shares of Rogers in a research note on Thursday, March 31st. They set a “hold” rating for the company.

Rogers stock opened at $257.08 on Friday. The company has a market cap of $4.83 billion, a P/E ratio of 52.04 and a beta of 1.47. Rogers has a 1-year low of $176.00 and a 1-year high of $274.51. The company has a fifty day simple moving average of $266.47 and a 200 day simple moving average of $270.44. The company has a current ratio of 3.58, a quick ratio of 2.63 and a debt-to-equity ratio of 0.17.

Rogers (NYSE:ROGGet Rating) last released its earnings results on Thursday, April 28th. The electronics maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.39. The business had revenue of $248.30 million during the quarter, compared to the consensus estimate of $233.00 million. Rogers had a net margin of 9.82% and a return on equity of 11.68%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 earnings per share. On average, equities research analysts forecast that Rogers will post 6.15 EPS for the current year.

In other Rogers news, Director Keith Barnes sold 400 shares of Rogers stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $260.20, for a total value of $104,080.00. Following the completion of the sale, the director now owns 1,820 shares in the company, valued at approximately $473,564. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in ROG. Morgan Stanley increased its holdings in Rogers by 22.8% in the 2nd quarter. Morgan Stanley now owns 82,272 shares of the electronics maker’s stock valued at $16,519,000 after buying an additional 15,299 shares during the period. Invesco Ltd. increased its holdings in Rogers by 12.5% in the 3rd quarter. Invesco Ltd. now owns 325,264 shares of the electronics maker’s stock valued at $60,655,000 after buying an additional 36,149 shares during the period. Eaton Vance Management grew its holdings in shares of Rogers by 245.9% during the 3rd quarter. Eaton Vance Management now owns 3,750 shares of the electronics maker’s stock valued at $589,000 after purchasing an additional 2,666 shares during the last quarter. Point72 Hong Kong Ltd grew its holdings in shares of Rogers by 12.4% during the 3rd quarter. Point72 Hong Kong Ltd now owns 542 shares of the electronics maker’s stock valued at $101,000 after purchasing an additional 60 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Rogers by 36.1% during the 3rd quarter. Millennium Management LLC now owns 38,278 shares of the electronics maker’s stock valued at $7,138,000 after purchasing an additional 10,150 shares during the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Company Profile (Get Rating)

Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. It operates through Advanced Electronics Solutions (AES), Elastomeric Material Solutions (EMS), and Other segments. The AES segment offers circuit materials, ceramic substrate materials, busbars, and cooling solutions for applications in electric and hybrid electric vehicles (EV/HEV), wireless infrastructure, automotive, telematics and thermal solutions, aerospace and defense, mass transit, clean energy, connected devices, and wired infrastructure markets.

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