CL King Initiates Coverage on Rogers (NYSE:ROG)

Equities research analysts at CL King initiated coverage on shares of Rogers (NYSE:ROG) in a note issued to investors on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $85.00 price target on the electronics maker’s stock. CL King’s target price points to a potential upside of 26.56% from the stock’s current price.

Rogers Trading Down 0.5 %

ROG stock opened at $67.16 on Monday. Rogers has a 1-year low of $65.70 and a 1-year high of $134.07. The business’s 50 day moving average is $82.90 and its 200-day moving average is $96.17. The firm has a market cap of $1.24 billion, a P/E ratio of 47.63 and a beta of 0.56.

Rogers (NYSE:ROG) last issued its quarterly earnings data on Wednesday, February 19th. The electronics maker reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Rogers had a return on equity of 3.98% and a net margin of 3.14%. The company had revenue of $192.20 million during the quarter, compared to analysts’ expectations of $191.75 million. During the same period last year, the business earned $0.60 earnings per share. Sell-side analysts forecast that Rogers will post 3.57 EPS for the current year.

Institutional Investors Weigh In On Rogers

A number of hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its holdings in shares of Rogers by 810.8% in the fourth quarter. Sterling Capital Management LLC now owns 592 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 527 shares in the last quarter. Covestor Ltd lifted its stake in shares of Rogers by 43.7% during the fourth quarter. Covestor Ltd now owns 1,164 shares of the electronics maker’s stock valued at $118,000 after acquiring an additional 354 shares during the period. Bank of Montreal Can boosted its holdings in Rogers by 6.2% in the fourth quarter. Bank of Montreal Can now owns 2,022 shares of the electronics maker’s stock valued at $205,000 after acquiring an additional 118 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new stake in Rogers in the fourth quarter worth about $222,000. Finally, FMR LLC raised its holdings in Rogers by 83.1% during the 3rd quarter. FMR LLC now owns 2,309 shares of the electronics maker’s stock worth $261,000 after purchasing an additional 1,048 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

Rogers Company Profile

Rogers Corporation engages in the design, development, manufacture, and sale of engineered materials and components worldwide. It operates through Advanced Electronics Solutions (AES), Elastomeric Material Solutions (EMS), and Other segments. The AES segment offers circuit materials, ceramic substrate materials, busbars, and cooling solutions for applications in electric and hybrid electric vehicles (EV/HEV), wireless infrastructure, automotive, renewable energy, aerospace and defense, mass transit, industrial, connected devices, and wired infrastructure.