Zacks Investment Research upgraded shares of Roper Technologies (NYSE:ROP) from a sell rating to a hold rating in a report issued on Monday morning.
According to Zacks, “Over the past six months, Roper’s shares have outperformed the industry. The company’s third-quarter 2018 adjusted earnings of $3.09 per share outpaced the Zacks Consensus Estimate by 5.1% and also came in 31% higher than the year-ago tally. Roper expects that improved end-market conditions and benefits secured form its asset-light niche market strategy will continue to boost near-term profit. The company also raised its 2018 adjusted earnings guidance from $11.40-$11.56 per share to $11.69-$11.73 per share. However, over the past six-month period, Roper’s stock looks overvalued compared to the industry. The company is currently troubled by rising cost of sales (due to material cost inflation) and operating expenses. Persistence of inflationary pressure as well as sudden integration cost associated with latest business acquisitions might dent Roper’s near-term profitability.”
A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut Roper Technologies from an overweight rating to a neutral rating and set a $305.00 price target on the stock. in a research report on Friday, September 21st. Raymond James cut Roper Technologies from a strong-buy rating to an outperform rating in a research report on Friday, July 27th. They noted that the move was a valuation call. Argus increased their price target on Roper Technologies from $295.00 to $330.00 and gave the stock a buy rating in a research report on Thursday, August 2nd. ValuEngine raised Roper Technologies from a hold rating to a buy rating in a report on Wednesday, July 25th. Finally, Cowen reissued a buy rating and issued a $330.00 price objective on shares of Roper Technologies in a report on Tuesday, July 31st. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Roper Technologies currently has an average rating of Buy and an average target price of $317.82.
Shares of Roper Technologies stock traded up $1.63 on Monday, reaching $285.69. 12,610 shares of the company were exchanged, compared to its average volume of 590,905. The company has a current ratio of 0.76, a quick ratio of 0.66 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $29.10 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 1.95 and a beta of 1.11. Roper Technologies has a 1-year low of $252.23 and a 1-year high of $312.65.
Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Friday, October 26th. The industrial products company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.15. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Roper Technologies had a return on equity of 16.30% and a net margin of 22.44%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.36 EPS. Sell-side analysts predict that Roper Technologies will post 11.72 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 22nd. Investors of record on Monday, October 8th were issued a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, October 4th. Roper Technologies’s dividend payout ratio (DPR) is 17.52%.
In other Roper Technologies news, Director Richard F. Wallman acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was acquired at an average cost of $312.35 per share, with a total value of $156,175.00. Following the acquisition, the director now directly owns 52,965 shares of the company’s stock, valued at approximately $16,543,617.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert D. Johnson sold 750 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $298.37, for a total value of $223,777.50. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Inverness Counsel LLC NY boosted its stake in Roper Technologies by 1.5% during the 2nd quarter. Inverness Counsel LLC NY now owns 779,299 shares of the industrial products company’s stock valued at $215,016,000 after purchasing an additional 11,436 shares in the last quarter. Putnam Investments LLC boosted its stake in Roper Technologies by 2.2% during the 2nd quarter. Putnam Investments LLC now owns 465,030 shares of the industrial products company’s stock valued at $128,307,000 after purchasing an additional 10,029 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Roper Technologies by 13.2% during the 2nd quarter. Wells Fargo & Company MN now owns 412,042 shares of the industrial products company’s stock valued at $113,686,000 after purchasing an additional 47,931 shares in the last quarter. Morgan Stanley boosted its stake in Roper Technologies by 26.2% during the 2nd quarter. Morgan Stanley now owns 383,689 shares of the industrial products company’s stock valued at $105,864,000 after purchasing an additional 79,577 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Roper Technologies by 3.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 377,777 shares of the industrial products company’s stock valued at $104,233,000 after purchasing an additional 11,847 shares in the last quarter. 92.38% of the stock is owned by hedge funds and other institutional investors.
About Roper Technologies
Roper Technologies, Inc designs and develops software, and engineered products and solutions. It operates in four segments: RF Technology; Medical & Scientific Imaging; Industrial Technology; and Energy Systems & Controls. The company offers radio frequency identification (RFID) communication technology and software solutions, including application management software, software-as-a-service applications, card systems/integrated security solutions, toll and traffic systems, RFID card readers, and metering and remote monitoring products.
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