In a report released yesterday, Craig Ellis from B.Riley FBR maintained a Buy rating on Rogers Corp (ROG), with a price target of $155. The company’s shares opened today at $103.04, close to its 52-week low of $100.68.
Ellis observed:
“Against the backdrop of heightened market volatility which seems to be pricing in further China trade, rising US interest rate, and/or global economic risk, late last week we hosted investor meetings with ROG CEO Hoechner and CFO Ludwig. We had four key takeaways for the specialty materials leader. First, we believe ROG’s growth positioning—with leverage to 5G infrastructure, auto ADAS and hybrids/EVs, plus industrial IoT is compelling. HSD Y/Y organic growth seems possible from its technology-rich portfolio, with +15% Y/Y attainable with inorganic growth. Second, we believe shares are over-reacting to Huawei fears with a drop since 12/03 discounting the loss of virtually all associated comm infrastructure sales, when to us that seems improbable for numerous reasons.”
According to TipRanks.com, Ellis is a top 100 analyst with an average return of 17.4% and a 55.8% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Applied Materials Inc, and Axcelis Technologies.
Rogers Corp has an analyst consensus of Moderate Buy, with a price target consensus of $155.
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Rogers Corp’s market cap is currently $1.88B and has a P/E ratio of 27.43. The company has a Price to Book ratio of 2.29.
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Rogers Corp. engages in the design, development, manufacture, and sale of engineered materials and components for mission critical applications. It operates through the following segments: Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES), and Other.
