Zacks Investment Research cut shares of Roper Technologies (NYSE:ROP) from a buy rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports. They currently have $394.00 price target on the industrial products company’s stock.
According to Zacks, “In the past six months, Roper's shares have outperformed the industry. For 2019, Roper anticipates solid revenues, its unique niche market strategy, healthy balance sheet and gains from acquired assets to drive profitability. Earnings are expected to be $12.94-$13.06, higher than $12.70-$13.00 predicted earlier. Organic revenues are projected to increase 4%, driven by strength in Application Software, Network Software & Systems and Measurement & Analytical Solutions segments. However, the stock has been significantly overvalued compared with the industry over the past six months. In addition, if unchecked, higher costs and operating expenses might prove detrimental to the company’s profitability. Further, earnings estimates for the third quarter of 2019 have declined in the past couple of months.”
Several other research firms also recently commented on ROP. Barclays boosted their price target on shares of Roper Technologies from $342.00 to $355.00 and gave the stock an equal weight rating in a research note on Tuesday, July 9th. Royal Bank of Canada boosted their price target on shares of Roper Technologies from $393.00 to $404.00 and gave the stock an outperform rating in a research note on Tuesday, August 27th. Raymond James boosted their price target on shares of Roper Technologies from $370.00 to $394.00 and gave the stock an outperform rating in a research note on Wednesday, July 3rd. Wells Fargo & Co boosted their price target on shares of Roper Technologies from $400.00 to $450.00 and gave the stock an outperform rating in a research note on Tuesday, July 23rd. Finally, Oppenheimer boosted their price target on shares of Roper Technologies from $375.00 to $400.00 in a research note on Tuesday, July 9th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Roper Technologies has a consensus rating of Buy and an average target price of $377.50.
Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $3.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.05 by $0.02. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.35 billion. Roper Technologies had a net margin of 21.16% and a return on equity of 16.70%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.89 earnings per share. On average, analysts expect that Roper Technologies will post 13.01 EPS for the current year.
In related news, Director Amy Woods Brinkley sold 1,500 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $360.54, for a total transaction of $540,810.00. Following the completion of the transaction, the director now owns 15,380 shares in the company, valued at $5,545,105.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $363.04, for a total transaction of $181,520.00. Following the transaction, the director now owns 9,080 shares of the company’s stock, valued at approximately $3,296,403.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,000 shares of company stock valued at $1,449,210. Insiders own 1.90% of the company’s stock.
Several hedge funds have recently modified their holdings of ROP. Krane Funds Advisors LLC acquired a new position in Roper Technologies in the second quarter valued at $25,000. Captrust Financial Advisors boosted its stake in Roper Technologies by 227.3% in the second quarter. Captrust Financial Advisors now owns 72 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Coastal Investment Advisors Inc. acquired a new position in Roper Technologies in the second quarter valued at $30,000. Advisory Alpha LLC acquired a new position in Roper Technologies in the first quarter valued at $35,000. Finally, MUFG Americas Holdings Corp boosted its stake in Roper Technologies by 83.0% in the second quarter. MUFG Americas Holdings Corp now owns 97 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.
Roper Technologies Company Profile
Roper Technologies, Inc designs and develops software, and engineered products and solutions worldwide. The company operates in four segments: Application Software; Network Software & Systems; Measurement & Analytical Solutions; and Process Technologies. It offers application management software, software-as-a-service applications, card systems/integrated security, toll and traffic systems, radio frequency identification card readers, and metering and remote monitoring products.
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