Rogers (NYSE:ROG) Stock Gets Price Target Trim from B. Riley Financial

Rogers (NYSE:ROG) had its target price reduced by B. Riley Financial from $195.00 to $180.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the electronics maker’s stock.

Several other research analysts have also weighed in on the company. Freedom Broker raised Rogers to a “strong-buy” rating in a research report on Thursday, October 1st. Wall Street Zen upgraded Rogers from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Zacks Research raised Rogers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Finally, Weiss Ratings cut shares of Rogers from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $180.00.

Rogers Price Performance

Shares of NYSE:ROG opened at $131.06 on Monday. The company’s 50-day moving average price is $136.18 and its two-hundred day moving average price is $128.54. Rogers has a one year low of $75.14 and a one year high of $169.00. The stock has a market capitalization of $2.33 billion, a PE ratio of 51.80 and a beta of 0.42.

Rogers (NYSE:ROG) last announced its quarterly earnings data on Tuesday, October 27th. The electronics maker reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.20. The company had revenue of $236.10 million during the quarter, compared to analysts’ expectations of $238.00 million. Rogers had a return on equity of 5.89% and a net margin of 5.30%. On average, analysts anticipate that Rogers will post 4.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Rogers in the 2nd quarter valued at $556,493,000. Leeward Investments LLC MA boosted its stake in Rogers by 4.7% in the third quarter. Leeward Investments LLC MA now owns 328,731 shares of the electronics maker’s stock valued at $50,293,000 after buying an additional 14,872 shares in the last quarter. Atreides Management LP acquired a new stake in Rogers in the second quarter valued at about $30,996,000. Bank of America Corp DE bought a new position in Rogers in the second quarter valued at about $22,859,000. Finally, Bank of New York Mellon Corp bought a new position in Rogers in the second quarter valued at about $18,012,000. 96.02% of the stock is owned by institutional investors.

About Rogers

Rogers Corporation (NYSE: ROG) develops and manufactures engineered materials for applications that require specialized electrical, thermal, or mechanical performance. Its products include high-frequency circuit materials, ceramic substrates for power electronics, and engineered foam and silicone materials. The company’s materials are used in markets including automotive and vehicle electrification, telecommunications, renewable energy, aerospace and defense, and industrial equipment. Rogers serves customers globally through its international operations.