Rogers (NYSE:ROG) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Rogers (NYSE:ROG) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Other research analysts have also issued reports about the stock. Freedom Broker raised shares of Rogers to a “strong-buy” rating in a research report on Thursday, October 1st. Zacks Research upgraded Rogers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Weiss Ratings downgraded shares of Rogers from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday. Finally, B. Riley Financial lowered their price target on shares of Rogers from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $195.00.

Rogers Price Performance

Shares of NYSE:ROG opened at $132.65 on Friday. Rogers has a 1 year low of $75.14 and a 1 year high of $169.00. The business’s 50-day moving average is $135.96 and its 200-day moving average is $127.41. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 52.43 and a beta of 0.43.

Rogers (NYSE:ROG) last posted its quarterly earnings results on Tuesday, October 27th. The electronics maker reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.20. Rogers had a return on equity of 5.89% and a net margin of 5.30%. The firm had revenue of $236.10 million for the quarter, compared to analysts’ expectations of $238.00 million. Analysts anticipate that Rogers will post 4.06 EPS for the current year.

Institutional Trading of Rogers

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Rogers during the second quarter valued at approximately $556,493,000. Leeward Investments LLC MA lifted its holdings in shares of Rogers by 4.7% in the third quarter. Leeward Investments LLC MA now owns 328,731 shares of the electronics maker’s stock worth $50,293,000 after buying an additional 14,872 shares in the last quarter. Atreides Management LP purchased a new position in shares of Rogers in the second quarter worth $30,996,000. Bank of America Corp DE bought a new position in shares of Rogers during the second quarter worth $22,859,000. Finally, Bank of New York Mellon Corp purchased a new position in Rogers during the second quarter valued at $18,012,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Rogers

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.

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.