Oppenheimer Believes Roper Technologies (NYSE: ROP) Still Has Room to Grow

By Jason Carr

Oppenheimer analyst Christopher Glynn reiterated a Buy rating on Roper Technologies (NYSE: ROP) yesterday and set a price target of $257. The company’s shares closed yesterday at $232.46, close to its 52-week high of $238.49.

Glynn observed:

“ROP tweaked guidance upward, including for CFO over $1.15B (from ~$1.15B), up 20%+ y-o-y (15%+ vs. 2016, excl. cash taxes on small divestiture). Industrial Tech performance appears positioned to modestly push through outlook basis, as does RF OM (though 2Q stronger than expected and subject to quarterly mix; on latter point, though, we do not anticipate headwinds sequentially). Medical margins remain ROP’s highest and performing well, but absorbing some R&D investment and timing of NP traction, creating slight mid-year noise.”

According to TipRanks.com, Glynn is a top 100 analyst with an average return of 14.1% and a 72.9% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Rockwell Automation Inc.

Currently, the analyst consensus on Roper Technologies is Strong Buy and the average price target is $253.50, representing a 9.1% upside.

In a report issued on July 19, Stifel Nicolaus also reiterated a Buy rating on the stock with a $273 price target.

Roper Technologies’ market cap is currently $23.71B and has a P/E ratio of 35.87. The company has a book value ratio of 3.9724.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock.

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Roper Technologies, Inc. engages in the provision of engineered products and solutions for the global niche markets. It operates through the following segments: Medical and Scientific Imaging, RF Technology, Industrial Technology and Energy Systems and Controls.