Rocky Brands (NASDAQ:RCKY) Lowered to “Buy” Rating by Wall Street Zen

Rocky Brands (NASDAQ:RCKY) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings cut Rocky Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.00.

Rocky Brands Price Performance

RCKY stock opened at $45.20 on Friday. The company has a current ratio of 2.74, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $338.55 million, a P/E ratio of 15.27 and a beta of 2.72. The business has a 50 day simple moving average of $32.73 and a 200-day simple moving average of $30.42. Rocky Brands has a twelve month low of $11.93 and a twelve month high of $48.70.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings results on Tuesday, February 24th. The textile maker reported $0.94 EPS for the quarter, beating the consensus estimate of $0.48 by $0.46. The firm had revenue of $139.72 million during the quarter, compared to the consensus estimate of $134.05 million. Rocky Brands had a net margin of 4.62% and a return on equity of 10.20%.

Institutional Trading of Rocky Brands

Several hedge funds have recently modified their holdings of RCKY. Raymond James Financial Inc. grew its holdings in Rocky Brands by 24.3% during the second quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock worth $12,371,000 after acquiring an additional 109,012 shares during the period. LSV Asset Management lifted its holdings in Rocky Brands by 160.1% in the fourth quarter. LSV Asset Management now owns 146,365 shares of the textile maker’s stock valued at $4,293,000 after acquiring an additional 90,103 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Rocky Brands by 686.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 85,553 shares of the textile maker’s stock worth $1,898,000 after purchasing an additional 74,668 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Rocky Brands by 128.5% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 123,262 shares of the textile maker’s stock worth $2,735,000 after purchasing an additional 69,313 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Rocky Brands in the 3rd quarter valued at about $1,772,000. 75.06% of the stock is owned by institutional investors and hedge funds.

About Rocky Brands

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.