“We believe execution around this strategy is showing visible gains in 2017 and expect Mgt to retain its focus. For example, autonomous vehicles, vehicle to vehicle communications, advanced 4.5G and 5G infrastructure, the IoT, energy efficient vehicles, and OLED are all high growth areas well-suited to ROG technology. We expect the company to gradually but increasingly align the sub-segment focus within Advanced Connectivity Solutions (ACS; 42% of sls), Elastomeric Materials Solutions (EMS; 31%), and Power Electronics Solutions (23%) taking related sales toward 60% over time. Recall market share is often a dominant 50% to 90% in areas like macro base station and antenna substrates, electronic vehicle battery foams and compartment silicon sealing, and automated driver assist radar systems to often surpass the next competitor by 2-3x, a broad competitive moat.”,” the firm’s analyst wrote.
Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Rogers Corporation from a strong-buy rating to a hold rating in a research note on Wednesday, June 28th. Sidoti reiterated a buy rating and set a $125.00 price objective (up from $120.00) on shares of Rogers Corporation in a research note on Monday, June 19th. BidaskClub downgraded shares of Rogers Corporation from a buy rating to a hold rating in a research note on Thursday, July 27th. Royal Bank Of Canada reiterated an outperform rating on shares of Rogers Corporation in a research note on Tuesday, May 23rd. Finally, Needham & Company LLC reiterated a buy rating and set a $135.00 price objective (up from $115.00) on shares of Rogers Corporation in a research note on Wednesday, August 2nd. Eight research analysts have rated the stock with a buy rating, The company has an average rating of Buy and an average price target of $134.25.
Rogers Corporation (NYSE:ROG) opened at 115.18 on Tuesday. The firm has a 50-day moving average of $115.07 and a 200 day moving average of $99.04. The stock has a market cap of $2.09 billion, a PE ratio of 27.77 and a beta of 1.16. Rogers Corporation has a 12 month low of $51.98 and a 12 month high of $123.38.
Rogers Corporation (NYSE:ROG) last posted its quarterly earnings data on Monday, July 31st. The electronics maker reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.13. Rogers Corporation had a net margin of 10.21% and a return on equity of 13.28%. The firm had revenue of $201.40 million for the quarter, compared to the consensus estimate of $195.60 million. During the same period in the prior year, the firm posted $0.88 EPS. The firm’s revenue was up 27.9% compared to the same quarter last year. Analysts anticipate that Rogers Corporation will post $5.55 EPS for the current year.
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In other Rogers Corporation news, SVP Robert C. Daigle sold 4,485 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $121.52, for a total transaction of $545,017.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter C. Wallace sold 2,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $107.28, for a total transaction of $214,560.00. Following the sale, the director now directly owns 14,300 shares in the company, valued at $1,534,104. The disclosure for this sale can be found here. Insiders have sold 7,335 shares of company stock worth $854,089 over the last three months. 1.50% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of ROG. SG Americas Securities LLC acquired a new stake in shares of Rogers Corporation during the first quarter worth $106,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Rogers Corporation during the first quarter worth $123,000. Creative Planning boosted its stake in shares of Rogers Corporation by 6,455.6% in the second quarter. Creative Planning now owns 1,180 shares of the electronics maker’s stock worth $128,000 after buying an additional 1,162 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Rogers Corporation by 17.5% in the second quarter. Victory Capital Management Inc. now owns 1,414 shares of the electronics maker’s stock worth $154,000 after buying an additional 211 shares during the period. Finally, Riverhead Capital Management LLC boosted its stake in shares of Rogers Corporation by 87.4% in the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the electronics maker’s stock worth $163,000 after buying an additional 699 shares during the period. 93.36% of the stock is currently owned by institutional investors.
Rogers Corporation 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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