Why Roper Technologies Stock Soared in July
Shares in diversified technology company Roper Technologies (NYSE: ROP) rose 11.4% in July, according to data provided by S&P Global Market Intelligence. The move comes in line with an excellent set of second-quarter earnings released toward the end of the month.
With most other industrial companies reporting horrific second-quarter earnings, it came as somewhat of a surprise to see Roper report only a 2% year-over-year decline in its earnings before interest, tax, depreciation, and amortization (EBITDA) during the quarter. In a nutshell, revenue declined 2% in the quarter on a year-over-year basis, but management kept EBITDA margin flat at 35.3%.
Roper's stock price has powered higher in 2020. Image source: Getty Images.
Source Fool.com
