Rogers Corporation (ROG) is Initiated by Needham to Buy, Price Target at $70

Rogers Corporation (ROG) was Initiated by Needham to “Buy” and the brokerage firm has set the Price Target at $70. Needham advised their investors in a research report released on Sep 13, 2016.

On the company’s financial health, Rogers Corporation reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.83. The company had revenue of $157.50 million for the quarter, compared to analysts expectations of $162.16 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.77 EPS.

Rogers Corporation opened for trading at $55.35 and hit $56.73 on the upside on Monday, eventually ending the session at $56.23, with a gain of 1.06% or 0.59 points. The heightened volatility saw the trading volume jump to 170,143 shares. Company has a market cap of $1,014 M.

In a different news, on May 25, 2016, Carol R Jensen (director) sold 1,400 shares at $63.07 per share price. According to the SEC, on May 25, 2016, Helen Zhang (VP, PES, President Rogers Asia) sold 2,392 shares at $62.08 per share price. On May 9, 2016, Jeffrey M Grudzien (VP, ACS) sold 7,235 shares at $63.20 per share price, according to the Form-4 filing with the securities and exchange commission.

Rogers Corporation is a supplier of specialty materials products. The Company supplies products across a range of end markets including portable communications communications infrastructure consumer electronics mass transit automotive defense and clean technology. The Company operates through segments: Printed Circuit Materials (PCM) High Performance Foams (HPF) Power Electronics Solutions (PES) and Others. The Printed Circuit Materials segment includes printed circuit board laminate products for high frequency and high performance applications. The High Performance Foams segment includes polyurethane and silicone foam as well as solid products manufactured in roll stock sheet and molded formats. The Power Electronics Solutions segment consists of direct bond copper (DBC) ceramic substrate products and busbar power distribution products. The Other segment consists of elastomer components floats and inverter distribution activities.

Rogers Corporation

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