Analysts at Zacks Investment Research upgraded shares of Rogers Corp. (NYSE: ROG) from Sell to Hold today. With a rating of Hold on the shares, the company has a 52-week high of $69.26. The one-year price target of $1.68 is a decrease compared to the opening price of $59.21, causing a number of other analysts to comment on the company in recent days. Typically, after analysts assign an upgrade report on a stock, they will subsequently issue recurring revisions, such as a price target change.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of Rogers Corp. (NYSE: ROG) opened at $59.21 yesterday trading between $58.95 and $60.16, and last traded at $60.12, which is a jump of $1.32 over the previous closing price.
Rogers Corp. (NYSE: ROG) currently has a market cap of 1.08B.
66,079 shares crossed the trading desk yesterday, lower than the average, out of a total float 17,817,000. Trading volume is likely to increase in the next few days as swing traders often use swings in trading volume to pinpoint substantial volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors watch for volume to be at least 40%-50% higher than normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Rogers Corp. (NYSE: ROG) now has a 50-day MA of $57.75 and 200-day MA of $60.93. It has traded in a 52-week range between $41.92 – 69.26 and today’s last price is 0.13% lower than the 52 week high of $69.26.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings by at least 25% over 3 consecutive years.
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