Rogers Co. (NYSE:ROG) was the target of a large drop in short interest during the month of November. As of November 29th, there was short interest totalling 671,800 shares, a drop of 19.2% from the November 14th total of 831,500 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average daily volume of 145,600 shares, the short-interest ratio is presently 4.6 days.
A number of research analysts recently weighed in on ROG shares. ValuEngine downgraded shares of Rogers from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. B. Riley reissued a “buy” rating on shares of Rogers in a report on Monday, October 28th. Zacks Investment Research downgraded shares of Rogers from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus set a $170.00 price target on Rogers and gave the company a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $187.25.
ROG stock traded down $1.42 during midday trading on Friday, hitting $128.26. The company’s stock had a trading volume of 338,300 shares, compared to its average volume of 172,187. The company has a quick ratio of 3.05, a current ratio of 4.36 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 22.23 and a beta of 2.12. The company has a 50 day moving average of $131.43 and a two-hundred day moving average of $144.24. Rogers has a 12 month low of $89.21 and a 12 month high of $206.43.
Rogers (NYSE:ROG) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.51 EPS for the quarter, topping the 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 business had revenue of $221.80 million for the quarter, compared to analysts’ expectations of $229.67 million. During the same quarter in the previous year, the company earned $1.42 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts anticipate that Rogers will post 6.05 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in ROG. Strs Ohio grew its position in Rogers by 14.3% in the second quarter. Strs Ohio now owns 1,600 shares of the electronics maker’s stock worth $276,000 after acquiring an additional 200 shares in the last quarter. Creative Planning purchased a new stake in shares of Rogers in the second quarter valued at $201,000. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Rogers by 140.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 13,071 shares of the electronics maker’s stock valued at $2,256,000 after purchasing an additional 7,630 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Rogers by 29.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,264 shares of the electronics maker’s stock worth $218,000 after purchasing an additional 290 shares during the period. Finally, KBC Group NV lifted its stake in Rogers by 43.3% in the second quarter. KBC Group NV now owns 7,073 shares of the electronics maker’s stock worth $1,221,000 after purchasing an additional 2,137 shares during the last quarter. Hedge funds and other institutional investors own 98.21% of the company’s stock.
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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