Rogers Co. [NYSE: ROG] is easily among the best performing stock this week on the New York Stock Exchange. ROG shot up over 13% on Tuesday following a +20 relative change. The incredible performance comes after the company financial report beat the estimate by a large margin.
However, on opening the session on Wednesday, [NYSE: ROG] is retracing 2.37% on the day. It has a relative change of about -4.53 and an NLS volume of 897,680. ROG closed yesterday’s session at $190.82 and has achieved highs around $206.21 and lows of 179.65 according to the data provided by Nasdaq.
Looking back, on May 1, ROG soared 13.91% up with a +23.30 in relative change while exchanging hands at $190.80. The asset has beaten its 1-year target at $187.5. Similarly, it has a share volume of 1,213,775 and a three-months average daily trading volume of 143,223. The key stock data shows ROG’s 52-week high/low at $173.915/$89.21 and a market cap of $3.5 billion. Its P/E ratio stands at 39.59 while the Forward P/E (1y) is 28.25 and earnings per share (EPS) of $4.82.
The electronics maker in its quarterly report posted $1.85 EPS greatly dwarfing analysts’ prediction of $1.32. Rogers posted a revenue of $239.80 million in the Q1 of 2019. Experts had predicted that the company revenue will hit $226.25 million. A 13.15% return on equity was recorded at the end of the financial quarter while a 9.97% net margin in Rogers’ was posted. Its revenue for this quarter shot up 11.7% in comparison to the revenue at the same time last year. In the first quarter of last year Rogers Co. earned $1.48 in terms of earnings per share.
Rogers has had an impressive first quarter and in fact, the financial report only serves to cement investors’ interest in the stock. Recently a research conducted by ValueEngine upgraded [NYSE: ROG] from a “hold” to a “buy” rating. Also Needham & Company LLC restated a “buy: rating and predicted a $155 price per share in the month of February. Moreover, B. Riley changed their target price from $155 to $160 giving the stock a “buy” rating in the research released on February 31, 2019. Rogers Co. has an agreed rating of “Buy” and an agreed target of $163.33 price per share.
Technical Outlook: [NYSE: ROG]
ROG is currently retracing from the 12-months high as the news of its impressive financial report settle down. There has been a dip below $200 but a support appears to be forming at $190 while the stock exchanges hands at $191.28. The technicals are still positive for this stock although there is increase volatility. It is likely that it will spend most of this week find a balance. As long as price stays above the Bollinger Band 1-hour middle and the 200 Moving Average (MA), we could see a correction above $200. Meanwhile, support targets for this stock in the short-term are $170, $160 $150 and $120.