Rogers (NYSE:ROG) Reaches New 52-Week High – Time to Buy?

Rogers Corporation (NYSE:ROG)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $103.16 and last traded at $101.67, with a volume of 14533 shares changing hands. The stock had previously closed at $100.50.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ROG. B. Riley reissued a “buy” rating on shares of Rogers in a research note on Thursday, October 30th. Wall Street Zen upgraded Rogers from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “sell (d)” rating on shares of Rogers in a research report on Thursday, January 22nd. Finally, Zacks Research cut shares of Rogers from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $85.00.

Rogers Stock Performance

The stock has a market capitalization of $1.82 billion, a PE ratio of -27.93 and a beta of 0.40. The company’s fifty day simple moving average is $93.40 and its two-hundred day simple moving average is $84.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Rogers in the second quarter valued at approximately $89,111,000. Capital Research Global Investors purchased a new stake in Rogers in the 3rd quarter worth approximately $98,295,000. Atreides Management LP acquired a new position in Rogers in the 2nd quarter valued at $12,888,000. Ameriprise Financial Inc. lifted its stake in shares of Rogers by 38.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 596,713 shares of the electronics maker’s stock worth $40,863,000 after purchasing an additional 165,174 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Rogers during the 3rd quarter worth $11,373,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Company Profile

Rogers Corporation (NYSE: ROG) is a global technology and materials company specializing in the development and manufacture of engineered materials and components. The company designs and produces a broad portfolio of high-performance elastomeric, foam, silicone, adhesive and thermal management solutions, as well as advanced circuit board laminates. Its products are engineered to meet stringent requirements in areas such as electrical insulation, thermal performance and electromagnetic shielding.

Rogers serves a diverse range of end markets, including automotive, aerospace and defense, telecommunications, consumer electronics and industrial applications.