Rogers (NYSE:ROG) Coverage Initiated at CL King

CL King initiated coverage on shares of Rogers (NYSE:ROG) in a research note issued to investors on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $85.00 price objective on the electronics maker’s stock.

Rogers Price Performance

NYSE:ROG opened at $69.52 on Monday. The business has a fifty day moving average price of $82.32 and a 200-day moving average price of $95.99. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 49.31 and a beta of 0.56. Rogers has a one year low of $65.70 and a one year high of $134.07.

Rogers (NYSE:ROG) last posted its quarterly earnings results on Wednesday, February 19th. The electronics maker reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $192.20 million for the quarter, compared to analysts’ expectations of $191.75 million. Rogers had a return on equity of 3.98% and a net margin of 3.14%. During the same period in the previous year, the firm earned $0.60 EPS. On average, equities research analysts expect that Rogers will post 3.57 earnings per share for the current fiscal year.

Institutional Trading of Rogers

Several hedge funds have recently made changes to their positions in ROG. JPMorgan Chase & Co. raised its holdings in shares of Rogers by 29.6% in the third quarter. JPMorgan Chase & Co. now owns 77,211 shares of the electronics maker’s stock worth $8,726,000 after buying an additional 17,648 shares during the period. Geode Capital Management LLC boosted its position in shares of Rogers by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 411,048 shares of the electronics maker’s stock worth $46,461,000 after purchasing an additional 5,164 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in Rogers during the 3rd quarter worth approximately $3,057,000. Jane Street Group LLC grew its stake in Rogers by 46.8% during the 3rd quarter. Jane Street Group LLC now owns 27,011 shares of the electronics maker’s stock valued at $3,053,000 after purchasing an additional 8,615 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Rogers by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 229,603 shares of the electronics maker’s stock worth $25,947,000 after acquiring an additional 11,876 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

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.