Truist Financial Reaffirms Buy Rating for Roper Technologies (NYSE:ROP)

Roper Technologies (NYSE:ROP)‘s stock had its “buy” rating reissued by equities research analysts at Truist Financial in a research report issued on Thursday, Benzinga reports. They presently have a $665.00 price objective on the industrial products company’s stock, up from their prior price objective of $660.00. Truist Financial’s target price indicates a potential upside of 21.42% from the stock’s previous close.

ROP has been the topic of several other reports. Oppenheimer cut their price target on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Mizuho upped their target price on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays boosted their price target on Roper Technologies from $611.00 to $625.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group boosted their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Royal Bank of Canada increased their price target on shares of Roper Technologies from $674.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $621.70.

Roper Technologies Trading Up 0.9 %

Roper Technologies stock traded up $4.74 during trading hours on Thursday, reaching $547.68. 94,596 shares of the company’s stock traded hands, compared to its average volume of 495,265. Roper Technologies has a fifty-two week low of $474.46 and a fifty-two week high of $579.10. The firm has a market capitalization of $58.71 billion, a price-to-earnings ratio of 40.57, a PEG ratio of 2.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.48 and a current ratio of 0.53. The firm’s 50 day moving average is $551.48 and its 200-day moving average is $545.46.

Roper Technologies (NYSE:ROP) last released its earnings results on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. On average, analysts predict that Roper Technologies will post 18.16 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert D. Johnson sold 140 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $550.34, for a total value of $77,047.60. Following the sale, the director now directly owns 5,909 shares in the company, valued at approximately $3,251,959.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Trading of Roper Technologies

Hedge funds have recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. bought a new position in shares of Roper Technologies in the 1st quarter valued at $25,000. Fairscale Capital LLC bought a new position in Roper Technologies in the second quarter valued at about $28,000. Versant Capital Management Inc boosted its stake in shares of Roper Technologies by 58.8% during the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 20 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Roper Technologies during the second quarter worth about $31,000. Finally, Covestor Ltd increased its stake in shares of Roper Technologies by 50.0% in the first quarter. Covestor Ltd now owns 60 shares of the industrial products company’s stock valued at $34,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

About Roper Technologies

Roper Technologies, Inc designs and develops software, and technology enabled products and solutions. It operates through three segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment offers management, campus solutions, diagnostic and laboratory information management, enterprise software and information solutions, transportation management, financial and compliance management, and cloud-based financial analytics and performance management software; cloud-based software to the property and casualty insurance industry; and software, services, and technologies for foodservice operations.