Rocky Brands (NASDAQ:RCKY) Upgraded at StockNews.com

StockNews.com upgraded shares of Rocky Brands (NASDAQ:RCKY) from a hold rating to a buy rating in a research report sent to investors on Friday.

Separately, Robert W. Baird increased their price target on Rocky Brands from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th.

Rocky Brands Trading Up 7.1 %

Shares of NASDAQ:RCKY opened at $18.93 on Friday. Rocky Brands has a 52-week low of $11.93 and a 52-week high of $40.14. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62. The stock has a market cap of $141.24 million, a price-to-earnings ratio of 10.63 and a beta of 2.36. The business has a 50-day moving average price of $16.57 and a 200-day moving average price of $21.00.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.73 EPS for the quarter, beating the consensus estimate of $0.52 by $0.21. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%. The company had revenue of $114.07 million for the quarter, compared to analyst estimates of $112.67 million.

Rocky Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.62 annualized dividend and a yield of 3.28%. Rocky Brands’s dividend payout ratio (DPR) is 33.88%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. North Star Investment Management Corp. grew its holdings in shares of Rocky Brands by 1.9% during the first quarter. North Star Investment Management Corp. now owns 218,625 shares of the textile maker’s stock worth $3,798,000 after buying an additional 4,000 shares during the last quarter. Yarger Wealth Strategies LLC raised its holdings in Rocky Brands by 8.2% during the first quarter. Yarger Wealth Strategies LLC now owns 11,767 shares of the textile maker’s stock worth $204,000 after purchasing an additional 894 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Rocky Brands by 20,076.9% in the 1st quarter. GAMMA Investing LLC now owns 5,246 shares of the textile maker’s stock valued at $91,000 after purchasing an additional 5,220 shares in the last quarter. Two Sigma Investments LP increased its position in Rocky Brands by 3.6% during the 4th quarter. Two Sigma Investments LP now owns 13,088 shares of the textile maker’s stock worth $298,000 after purchasing an additional 459 shares during the period. Finally, Man Group plc raised its stake in shares of Rocky Brands by 54.0% during the 4th quarter. Man Group plc now owns 20,710 shares of the textile maker’s stock worth $472,000 after buying an additional 7,263 shares in the last quarter. Hedge funds and other institutional investors 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.