Rogers (NYSE:ROG) Hits New 1-Year Low Following Analyst Downgrade

Rogers Co. (NYSE:ROG) shares hit a new 52-week low during trading on Friday after B. Riley lowered their price target on the stock from $165.00 to $152.00. B. Riley currently has a buy rating on the stock. Rogers traded as low as $111.49 and last traded at $111.49, with a volume of 1421 shares traded. The stock had previously closed at $115.21.

Several other research analysts also recently commented on the stock. Stifel Nicolaus set a $170.00 target price on shares of Rogers and gave the stock a “buy” rating in a report on Friday, November 1st. Zacks Investment Research downgraded shares of Rogers from a “hold” rating to a “sell” rating in a report on Saturday, January 25th. Finally, ValuEngine upgraded shares of Rogers from a “sell” rating to a “hold” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Rogers has a consensus rating of “Hold” and a consensus target price of $172.75.

Large investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Rogers by 1.1% during the second quarter. BlackRock Inc. now owns 2,695,362 shares of the electronics maker’s stock valued at $465,166,000 after acquiring an additional 28,524 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Rogers during the third quarter valued at about $298,000. Envestnet Asset Management Inc. grew its stake in shares of Rogers by 41.0% during the third quarter. Envestnet Asset Management Inc. now owns 8,424 shares of the electronics maker’s stock valued at $1,152,000 after acquiring an additional 2,451 shares in the last quarter. Virginia Retirement Systems ET AL grew its stake in shares of Rogers by 8.8% during the third quarter. Virginia Retirement Systems ET AL now owns 7,400 shares of the electronics maker’s stock valued at $1,012,000 after acquiring an additional 600 shares in the last quarter. Finally, Bridge City Capital LLC grew its stake in shares of Rogers by 27.6% during the third quarter. Bridge City Capital LLC now owns 11,473 shares of the electronics maker’s stock valued at $1,568,000 after acquiring an additional 2,481 shares in the last quarter. Institutional investors own 99.15% of the company’s stock.

The firm has a 50 day moving average price of $125.61 and a two-hundred day moving average price of $134.09. 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 company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 21.16 and a beta of 2.10.

About Rogers (NYSE:ROG)

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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