Rogers (NYSE:ROG) Stock Price Breaks Above Two Hundred Day Moving Average on Analyst Downgrade

Shares of Rogers Corporation (NYSE:ROG – Get Free Report) crossed above its two hundred day moving average during trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock has a two hundred day moving average of $128.20 and traded as high as $130.82. Rogers shares last traded at $128.25, with a volume of 312,258 shares trading hands.

Other equities analysts have also recently issued reports about the stock. Zacks Research upgraded shares of Rogers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. B. Riley Financial reduced their price objective on Rogers from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Freedom Broker upgraded Rogers to a “strong-buy” rating in a research report on Thursday, October 1st. Finally, Weiss Ratings cut Rogers from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Rogers presently has a consensus rating of “Buy” and a consensus price target of $180.00.

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Institutional Investors Weigh In On Rogers

A number of hedge funds and other institutional investors have recently made changes to their positions in ROG. BlackRock Inc. acquired a new stake in shares of Rogers in the 2nd quarter valued at $556,493,000. Leeward Investments LLC MA boosted its holdings in Rogers by 4.7% in the third quarter. Leeward Investments LLC MA now owns 328,731 shares of the electronics maker’s stock worth $50,293,000 after purchasing an additional 14,872 shares in the last quarter. Atreides Management LP acquired a new position in Rogers during the second quarter worth $30,996,000. Bank of America Corp DE acquired a new position in Rogers during the second quarter worth $22,859,000. Finally, Bank of New York Mellon Corp acquired a new position in Rogers during the second quarter worth $18,012,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Rogers Price Performance

The company has a fifty day simple moving average of $135.95 and a two-hundred day simple moving average of $128.20. The company has a market capitalization of $2.28 billion, a P/E ratio of 50.69 and a beta of 0.42.

Rogers (NYSE:ROG – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The electronics maker reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.20. Rogers had a return on equity of 5.89% and a net margin of 5.30%. The company had revenue of $236.10 million during the quarter, compared to the consensus estimate of $238.00 million. Equities analysts anticipate that Rogers Corporation will post 4.06 earnings per share for the current year.

Rogers Company Profile

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