Roper Technologies (NYSE:ROP) PT Lowered to $666.00 at Royal Bank of Canada

Roper Technologies (NYSE:ROP) had its target price reduced by research analysts at Royal Bank of Canada from $675.00 to $666.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 22.88% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on ROP. Jefferies Financial Group upped their price objective on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Barclays increased their price target on Roper Technologies from $611.00 to $625.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Truist Financial reissued a “buy” rating and issued a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday. Baird R W raised Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Finally, Mizuho lifted their target price on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $620.80.

Roper Technologies Stock Performance

Shares of ROP opened at $542.00 on Thursday. The firm has a market capitalization of $58.10 billion, a P/E ratio of 40.15, a P/E/G ratio of 2.89 and a beta of 1.02. Roper Technologies has a 52 week low of $474.46 and a 52 week high of $579.10. The stock has a 50 day moving average price of $551.39 and a two-hundred day moving average price of $545.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.48 and a current ratio of 0.53.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.09. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. Roper Technologies’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.32 earnings per share. Equities analysts forecast that Roper Technologies will post 18.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Roper Technologies

Institutional investors have recently made changes to their positions in the stock. First Trust Direct Indexing L.P. increased its position in shares of Roper Technologies by 12.1% during the third quarter. First Trust Direct Indexing L.P. now owns 5,392 shares of the industrial products company’s stock valued at $3,000,000 after buying an additional 584 shares during the period. Evermay Wealth Management LLC lifted its holdings in shares of Roper Technologies by 3.5% in the 3rd quarter. Evermay Wealth Management LLC now owns 1,229 shares of the industrial products company’s stock worth $684,000 after acquiring an additional 42 shares during the last quarter. Avitas Wealth Management LLC raised its position in Roper Technologies by 1.1% in the 3rd quarter. Avitas Wealth Management LLC now owns 6,512 shares of the industrial products company’s stock worth $3,624,000 after purchasing an additional 70 shares during the period. Valmark Advisers Inc. raised its stake in shares of Roper Technologies by 60.3% during the third quarter. Valmark Advisers Inc. now owns 752 shares of the industrial products company’s stock valued at $418,000 after acquiring an additional 283 shares during the last quarter. Finally, Strategic Blueprint LLC raised its holdings in Roper Technologies by 29.9% in the third quarter. Strategic Blueprint LLC now owns 764 shares of the industrial products company’s stock worth $425,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors 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.