Rocky Brands (NASDAQ:RCKY) Raised to Buy at StockNews.com

Rocky Brands (NASDAQ:RCKY) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Separately, B. Riley boosted their target price on Rocky Brands from $19.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th.

Rocky Brands Stock Down 2.7 %

NASDAQ:RCKY opened at $25.89 on Wednesday. The firm has a market capitalization of $192.10 million, a price-to-earnings ratio of 18.23 and a beta of 1.97. Rocky Brands has a twelve month low of $11.77 and a twelve month high of $32.38. The stock’s 50 day moving average price is $27.16 and its two-hundred day moving average price is $25.00. The company has a quick ratio of 1.24, a current ratio of 3.61 and a debt-to-equity ratio of 0.76.

Rocky Brands (NASDAQ:RCKY) last posted its earnings results on Wednesday, February 28th. The textile maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. The business had revenue of $125.95 million for the quarter, compared to analyst estimates of $128.90 million. Rocky Brands had a return on equity of 6.70% and a net margin of 2.26%. Equities research analysts expect that Rocky Brands will post 1.96 earnings per share for the current fiscal year.

Institutional Trading of Rocky Brands

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Rocky Brands by 15.7% in the 1st quarter. FMR LLC now owns 1,047,631 shares of the textile maker’s stock valued at $24,169,000 after purchasing an additional 141,969 shares during the period. Dimensional Fund Advisors LP boosted its stake in Rocky Brands by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 579,909 shares of the textile maker’s stock valued at $13,378,000 after purchasing an additional 17,193 shares during the period. Raymond James & Associates boosted its stake in Rocky Brands by 3.3% in the 3rd quarter. Raymond James & Associates now owns 511,398 shares of the textile maker’s stock valued at $7,518,000 after purchasing an additional 16,427 shares during the period. BlackRock Inc. boosted its stake in Rocky Brands by 6.2% in the 2nd quarter. BlackRock Inc. now owns 463,717 shares of the textile maker’s stock valued at $9,738,000 after purchasing an additional 26,884 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Rocky Brands by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 392,245 shares of the textile maker’s stock valued at $11,838,000 after purchasing an additional 2,488 shares during the period. 75.06% of the stock is currently owned by institutional investors.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.