CL King Initiates Coverage on Rogers (NYSE:ROG)

Equities research analysts at CL King began coverage on shares of Rogers (NYSE:ROG) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $85.00 price target on the electronics maker’s stock. CL King’s target price would indicate a potential upside of 25.49% from the stock’s current price.

Rogers Price Performance

Shares of NYSE ROG opened at $67.73 on Monday. Rogers has a 1 year low of $67.40 and a 1 year high of $134.07. The company’s 50-day moving average is $84.08 and its 200 day moving average is $96.67. The stock has a market capitalization of $1.25 billion, a P/E ratio of 48.04 and a beta of 0.56.

Rogers (NYSE:ROG) last announced its earnings results on Wednesday, February 19th. The electronics maker reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $192.20 million during the quarter, compared to analyst estimates of $191.75 million. Rogers had a return on equity of 3.98% and a net margin of 3.14%. During the same quarter in the prior year, the company earned $0.60 EPS. Research analysts anticipate that Rogers will post 3.57 earnings per share for the current year.

Institutional Trading of Rogers

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC boosted its stake in Rogers by 810.8% during the fourth quarter. Sterling Capital Management LLC now owns 592 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 527 shares in the last quarter. Covestor Ltd boosted its position in shares of Rogers by 43.7% in the 4th quarter. Covestor Ltd now owns 1,164 shares of the electronics maker’s stock worth $118,000 after purchasing an additional 354 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Rogers by 6.2% in the 4th quarter. Bank of Montreal Can now owns 2,022 shares of the electronics maker’s stock worth $205,000 after purchasing an additional 118 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Rogers in the 4th quarter worth approximately $222,000. Finally, FMR LLC increased its position in Rogers by 83.1% during the 3rd quarter. FMR LLC now owns 2,309 shares of the electronics maker’s stock valued at $261,000 after buying an additional 1,048 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

About Rogers

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.