Rogers (NYSE:ROG) Rating Lowered to Hold at Zacks Investment Research

Rogers (NYSE:ROG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday, January 4th.

According to Zacks, “Rogers Corporation designs, develops, manufactures and sells high-quality and high-reliability engineered materials and components for mission critical applications. We operate principally three strategic business segments – Advanced Connectivity Solutions, Elastomeric Material Solutions and Power Electronics Solutions. “

A number of other equities analysts have also recently issued reports on the stock. Needham & Company LLC upped their price target on shares of Rogers to $180.00 and gave the stock a “positive” rating in a research note on Tuesday, December 19th. B. Riley reiterated a “buy” rating and issued a $180.00 price objective on shares of Rogers in a research note on Friday, December 15th. Finally, ValuEngine cut shares of Rogers from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $164.00.

Shares of Rogers (NYSE:ROG) traded down $10.54 during trading on Thursday, reaching $167.92. 204,700 shares of the company’s stock were exchanged, compared to its average volume of 207,271. The stock has a market cap of $3,060.00, a P/E ratio of 36.35 and a beta of 1.17. The company has a current ratio of 3.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.18. Rogers has a fifty-two week low of $77.72 and a fifty-two week high of $184.00.

Rogers (NYSE:ROG) last released its earnings results on Thursday, November 2nd. The electronics maker reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.15. The firm had revenue of $206.80 million for the quarter, compared to the consensus estimate of $198.16 million. Rogers had a net margin of 10.88% and a return on equity of 14.22%. The company’s revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. sell-side analysts expect that Rogers will post 5.85 EPS for the current fiscal year.

In related news, SVP Jeffrey M. Grudzien sold 1,888 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $158.27, for a total value of $298,813.76. Following the completion of the transaction, the senior vice president now directly owns 24,192 shares of the company’s stock, valued at $3,828,867.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Rogers by 5.3% during the second quarter. Vanguard Group Inc. now owns 1,636,085 shares of the electronics maker’s stock worth $177,712,000 after purchasing an additional 82,322 shares during the last quarter. Neuberger Berman Group LLC grew its stake in Rogers by 2.1% in the third quarter. Neuberger Berman Group LLC now owns 1,565,202 shares of the electronics maker’s stock valued at $208,610,000 after purchasing an additional 31,667 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Rogers by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,049,565 shares of the electronics maker’s stock valued at $114,004,000 after purchasing an additional 5,406 shares during the last quarter. Northern Trust Corp grew its stake in Rogers by 3.4% in the second quarter. Northern Trust Corp now owns 618,786 shares of the electronics maker’s stock valued at $67,212,000 after purchasing an additional 20,253 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in shares of Rogers by 13.8% during the fourth quarter. Conestoga Capital Advisors LLC now owns 514,288 shares of the electronics maker’s stock worth $83,274,000 after acquiring an additional 62,305 shares during the last quarter. Institutional investors and hedge funds own 93.00% of the company’s stock.

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Rogers Company Profile

Rogers Corporation manufactures and sells engineered materials and components for mission critical applications. The Company’s segments are Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES) and Other. The ACS segment manufactures and sells circuit materials and solutions for applications in wireless communications infrastructure, automotive, connected devices, consumer electronics and aerospace/defense.

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