Short Interest in Rogers Co. (NYSE:ROG) Drops By 17.2%

Rogers Co. (NYSE:ROG) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 606,300 shares, a decline of 17.2% from the June 30th total of 732,600 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average daily volume of 217,100 shares, the days-to-cover ratio is presently 2.8 days.

Shares of ROG traded down $1.72 during trading hours on Thursday, hitting $130.87. 141,983 shares of the company were exchanged, compared to its average volume of 184,480. The company has a market capitalization of $2.44 billion, a P/E ratio of 22.69 and a beta of 2.16. The company’s 50 day simple moving average is $158.80. Rogers has a 52 week low of $89.21 and a 52 week high of $206.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.33 and a current ratio of 4.52.

Rogers (NYSE:ROG) last released its quarterly earnings results on Wednesday, July 31st. The electronics maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.09. The company had revenue of $242.90 million during the quarter, compared to the consensus estimate of $244.90 million. Rogers had a return on equity of 14.33% and a net margin of 10.39%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 EPS. On average, equities analysts expect that Rogers will post 6.3 earnings per share for the current year.



Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in Rogers in the 2nd quarter valued at approximately $25,000. Private Capital Group LLC raised its holdings in Rogers by 48.6% in the 1st quarter. Private Capital Group LLC now owns 214 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 70 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Rogers in the 2nd quarter valued at approximately $39,000. Creative Planning acquired a new position in Rogers in the 2nd quarter valued at approximately $201,000. Finally, Courier Capital LLC acquired a new position in Rogers in the 2nd quarter valued at approximately $207,000. Institutional investors own 99.15% of the company’s stock.

A number of research analysts have commented on ROG shares. B. Riley boosted their target price on Rogers from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Stifel Nicolaus started coverage on Rogers in a research note on Thursday, May 30th. They issued a “buy” rating and a $200.00 target price on the stock. ValuEngine downgraded Rogers from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research downgraded Rogers from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Rogers currently has a consensus rating of “Buy” and a consensus price target of $190.80.

About Rogers

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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