Rogers (NYSE:ROG) Reaches New 52-Week High – Time to Buy?

Rogers Corporation (NYSE:ROG) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $103.16 and last traded at $101.67, with a volume of 14533 shares. The stock had previously closed at $100.50.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ROG shares. Zacks Research lowered Rogers from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Rogers in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Rogers from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, B. Riley reiterated a “buy” rating on shares of Rogers in a research note on Thursday, October 30th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $85.00.

Rogers Stock Performance

The company has a market capitalization of $1.82 billion, a PE ratio of -27.93 and a beta of 0.40. The company’s 50-day simple moving average is $93.40 and its 200-day simple moving average is $84.00.

Institutional Trading of Rogers

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in shares of Rogers by 15.7% during the first quarter. Royal Bank of Canada now owns 4,276 shares of the electronics maker’s stock worth $288,000 after purchasing an additional 580 shares during the last quarter. AQR Capital Management LLC increased its stake in Rogers by 121.3% in the 1st quarter. AQR Capital Management LLC now owns 8,376 shares of the electronics maker’s stock valued at $566,000 after buying an additional 4,591 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Rogers by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,221 shares of the electronics maker’s stock worth $758,000 after buying an additional 536 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Rogers by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 51,135 shares of the electronics maker’s stock worth $3,453,000 after acquiring an additional 2,405 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Rogers in the first quarter valued at about $4,345,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Rogers Company Profile

Rogers Corporation (NYSE: ROG) is a global technology and materials company specializing in the development and manufacture of engineered materials and components. The company designs and produces a broad portfolio of high-performance elastomeric, foam, silicone, adhesive and thermal management solutions, as well as advanced circuit board laminates. Its products are engineered to meet stringent requirements in areas such as electrical insulation, thermal performance and electromagnetic shielding.

Rogers serves a diverse range of end markets, including automotive, aerospace and defense, telecommunications, consumer electronics and industrial applications.