Rogers Corporation (ROG) Soars 10% on Arlon Acquisition – Tale of the Tape

December 22, 2014 Technicals 0

Zacks

Rogers Corporation (ROG) was a big mover last session, as the company saw its shares soar 10% on the day. The upside resulted primarily from the company’s announcement of signing a definitive agreement to acquire Arlon, LLC, presently owned by Handy & Harman Ltd., in a transaction valued at $157 million on Dec 19. The news led to far more shares changing hands than in a normal session. This reverses the recent trend of the company, as the stock is now trading above the volatile price range of $68.25 to $72.34 in the past one-month time frame.

None of the estimates for this stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Rogers Corporation currently carries a Zacks Rank #1 (Strong Buy) while its Earnings ESP is 0.00%.

Another well-placed stock in the industry is AU Optronics Corp. (AUO), sporting a Zacks Rank #1 (Strong Buy).

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