Rogers Corporation (NYSE:ROG) Lifted to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Rogers Corporation (NYSE:ROG) from a hold rating to a strong-buy rating in a research note released on Wednesday, November 8th. The brokerage currently has $171.00 price target on the electronics maker’s stock.

According to Zacks, “Roche is a leader in research-focused healthcare with combined strengths in pharmaceuticals and diagnostics. Roche is the world’s largest biotech company, with truly differentiated medicines in oncology, immunology, infectious diseases, ophthalmology and neuroscience. Roche is also the world leader in in vitro diagnostics and tissue-based cancer diagnostics, and a frontrunner in diabetes management. The Company develops medicines for various disease areas, including oncology, immunology, infectious diseases, ophthalmology and neuroscience. Its pharmaceutical products include Anaprox, Avastin, Bactrim, Bondronat, CellCept, Cotellic, Dilatrend, Dormicum, Invirase, Kadcyla, Kytril (Kevatril), Lariam, MabThera, Madopar, Neupogen, Pegasys, Perjeta, Pulmozyme, Rocaltrol, Rocephin and Roferon-A. The Company offers products for researchers, including cell analysis, gene expression, genome sequencing and nucleic acid purification. “

Other equities research analysts have also issued reports about the stock. B. Riley reiterated a buy rating and set a $147.00 price target on shares of Rogers in a research note on Saturday, August 5th. Needham & Company LLC reissued a buy rating and set a $165.00 price objective on shares of Rogers in a research report on Friday, November 3rd. Finally, BidaskClub lowered shares of Rogers from a buy rating to a hold rating in a research report on Thursday, July 27th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $160.25.

Shares of Rogers (NYSE ROG) traded down $3.26 during trading on Wednesday, hitting $161.77. 150,592 shares of the company’s stock were exchanged, compared to its average volume of 127,627. Rogers has a 1-year low of $72.13 and a 1-year high of $168.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.74 and a current ratio of 3.74. The firm has a market capitalization of $2,950.00, a P/E ratio of 30.79 and a beta of 1.14.

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

In related news, SVP Robert C. Daigle sold 683 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $124.00, for a total value of $84,692.00. Following the completion of the transaction, the senior vice president now owns 25,612 shares in the company, valued at approximately $3,175,888. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert C. Daigle sold 208 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $135.86, for a total transaction of $28,258.88. The disclosure for this sale can be found here. Insiders sold 31,327 shares of company stock valued at $4,191,128 over the last 90 days. Insiders own 1.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of Rogers by 60,174.9% during the first quarter. BlackRock Inc. now owns 2,189,786 shares of the electronics maker’s stock valued at $188,037,000 after acquiring an additional 2,186,153 shares during the period. Rothschild Asset Management Inc. bought a new position in shares of Rogers in the third quarter valued at about $22,261,000. Cortina Asset Management LLC bought a new position in shares of Rogers in the third quarter valued at about $20,348,000. Conestoga Capital Advisors LLC increased its position in Rogers by 41.2% in the third quarter. Conestoga Capital Advisors LLC now owns 451,983 shares of the electronics maker’s stock worth $60,240,000 after purchasing an additional 131,853 shares during the period. Finally, Teachers Advisors LLC grew its position in shares of Rogers by 322.9% during the 1st quarter. Teachers Advisors LLC now owns 153,175 shares of the electronics maker’s stock worth $13,153,000 after buying an additional 116,956 shares during the period. Hedge funds and other institutional investors own 90.56% of the company’s stock.

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About Rogers

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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