Rogers (NYSE:ROG) Price Target Cut to $165.00 by Analysts at B. Riley

Rogers (NYSE:ROG) had its target price decreased by B. Riley from $180.00 to $165.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. B. Riley currently has a buy rating on the electronics maker’s stock. B. Riley also issued estimates for Rogers’ Q1 2020 earnings at $1.40 EPS, Q2 2020 earnings at $1.55 EPS, Q3 2020 earnings at $1.73 EPS, Q4 2020 earnings at $1.84 EPS and FY2021 earnings at $7.50 EPS.

Several other brokerages also recently weighed in on ROG. Stifel Nicolaus set a $170.00 price target on Rogers and gave the stock a buy rating in a report on Friday, November 1st. ValuEngine cut Rogers from a hold rating to a sell rating in a report on Tuesday, December 10th. Finally, Zacks Investment Research raised Rogers from a sell rating to a hold rating in a research report on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $176.00.

Shares of ROG stock traded down $2.40 during trading hours on Thursday, reaching $126.21. 82,991 shares of the stock were exchanged, compared to its average volume of 113,606. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 23.46 and a beta of 2.11. Rogers has a 12-month low of $116.69 and a 12-month high of $206.43. The company’s 50-day moving average price is $130.00 and its 200-day moving average price is $139.07. The company has a current ratio of 4.36, a quick ratio of 3.05 and a debt-to-equity ratio of 0.14.

Rogers (NYSE:ROG) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.15. Rogers had a net margin of 10.84% and a return on equity of 14.13%. The company had revenue of $221.80 million for the quarter, compared to analyst estimates of $229.67 million. During the same period in the prior year, the company posted $1.42 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts expect that Rogers will post 6.05 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. TimesSquare Capital Management LLC bought a new stake in Rogers during the 3rd quarter valued at about $46,386,000. Riverbridge Partners LLC bought a new position in Rogers in the 4th quarter worth about $22,392,000. Nuveen Asset Management LLC purchased a new position in shares of Rogers during the second quarter worth approximately $18,284,000. Morgan Stanley increased its position in shares of Rogers by 803.2% during the second quarter. Morgan Stanley now owns 87,690 shares of the electronics maker’s stock worth $15,133,000 after acquiring an additional 77,981 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Rogers by 48.6% during the third quarter. Fisher Asset Management LLC now owns 183,038 shares of the electronics maker’s stock valued at $25,023,000 after acquiring an additional 59,850 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Rogers Company Profile

Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. It operates in Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES), and Other segments. The ACS segment offers circuit materials and solutions for connectivity applications in wireless infrastructure, automotive, aerospace and defense, connected devices, wired infrastructure, and consumer electronics under the RO3000, RO4000, RT/duroid, TMM, AD Series, and CLTE Series names.

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