Rocky Brands (NASDAQ:RCKY – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.
Separately, B. Riley lifted their price target on Rocky Brands from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th.
Check Out Our Latest Report on RCKY
Rocky Brands Stock Performance
Rocky Brands (NASDAQ:RCKY – Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. Rocky Brands had a return on equity of 6.70% and a net margin of 2.26%. The company had revenue of $125.95 million during the quarter, compared to analysts’ expectations of $128.90 million. As a group, research analysts predict that Rocky Brands will post 1.96 EPS for the current year.
Hedge Funds Weigh In On Rocky Brands
Several institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Rocky Brands by 94.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,700 shares of the textile maker’s stock valued at $51,000 after buying an additional 826 shares during the period. Aristides Capital LLC increased its stake in shares of Rocky Brands by 3.5% in the 4th quarter. Aristides Capital LLC now owns 42,647 shares of the textile maker’s stock valued at $1,287,000 after purchasing an additional 1,441 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Rocky Brands in the 4th quarter valued at about $118,000. Denali Advisors LLC increased its stake in shares of Rocky Brands by 24.7% in the 4th quarter. Denali Advisors LLC now owns 20,832 shares of the textile maker’s stock valued at $629,000 after purchasing an additional 4,132 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Rocky Brands by 1,793.8% in the 4th quarter. New York State Common Retirement Fund now owns 4,564 shares of the textile maker’s stock valued at $138,000 after purchasing an additional 4,323 shares in the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.
About Rocky Brands
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.
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