Rocky Brands (NASDAQ:RCKY) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Rocky Brands (NASDAQ:RCKY) from a hold rating to a buy rating in a research report released on Wednesday morning.

Separately, B. Riley increased 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 Performance

Shares of NASDAQ RCKY opened at $26.61 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.61 and a quick ratio of 1.24. The stock’s fifty day moving average price is $27.19 and its two-hundred day moving average price is $25.00. Rocky Brands has a one year low of $11.77 and a one year high of $32.38. The firm has a market cap of $197.45 million, a price-to-earnings ratio of 18.74 and a beta of 1.97.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Wednesday, February 28th. The textile maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.09. The company 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%. On average, equities analysts forecast that Rocky Brands will post 1.96 EPS for the current year.

Rocky Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Friday, March 1st. Rocky Brands’s dividend payout ratio (DPR) is currently 43.66%.

Institutional Trading of Rocky Brands

Several institutional investors and hedge funds have recently modified their holdings of RCKY. Quantbot Technologies LP lifted its position in shares of Rocky Brands by 103.8% during the 1st quarter. Quantbot Technologies LP now owns 801 shares of the textile maker’s stock worth $33,000 after buying an additional 408 shares during the last quarter. Barclays PLC lifted its position in shares of Rocky Brands by 485.4% during the 4th quarter. Barclays PLC now owns 1,850 shares of the textile maker’s stock worth $44,000 after buying an additional 1,534 shares during the last quarter. Citigroup Inc. lifted its position in shares of Rocky Brands by 8,929.2% during the 2nd quarter. Citigroup Inc. now owns 2,167 shares of the textile maker’s stock worth $46,000 after buying an additional 2,143 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Rocky Brands by 94.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,700 shares of the textile maker’s stock worth $51,000 after buying an additional 826 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of Rocky Brands by 538.8% during the 4th quarter. UBS Group AG now owns 2,555 shares of the textile maker’s stock worth $60,000 after buying an additional 2,155 shares during the last quarter. 75.06% of the stock is currently owned by institutional investors.

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.