Rocky Brands (NASDAQ:RCKY) Rating Increased to Strong-Buy at Wall Street Zen

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

Other equities research analysts also recently issued reports about the company. BTIG Research restated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rocky Brands in a research report on Monday, December 29th. Citigroup reissued a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Finally, Robert W. Baird set a $42.00 price target on shares of Rocky Brands in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Rocky Brands presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Rocky Brands Trading Down 1.0%

RCKY opened at $33.19 on Friday. The firm’s fifty day moving average is $30.43 and its two-hundred day moving average is $28.71. The firm has a market cap of $248.59 million, a PE ratio of 12.11 and a beta of 2.67. Rocky Brands has a twelve month low of $11.93 and a twelve month high of $34.36. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 2.74.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings data on Tuesday, October 28th. The textile maker reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $122.54 million during the quarter, compared to analysts’ expectations of $122.92 million. Rocky Brands had a net margin of 4.37% and a return on equity of 11.03%.

Insider Activity at Rocky Brands

In other news, SVP Byron Wortham sold 6,600 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $29.90, for a total transaction of $197,340.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Curtis A. Loveland sold 4,775 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $32.43, for a total value of $154,853.25. Following the completion of the sale, the insider directly owned 95,454 shares of the company’s stock, valued at approximately $3,095,573.22. The trade was a 4.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,156 shares of company stock worth $643,824 in the last ninety days. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RCKY. Empowered Funds LLC increased its stake in shares of Rocky Brands by 6.8% during the 1st quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock worth $602,000 after purchasing an additional 2,205 shares during the last quarter. Strs Ohio bought a new position in Rocky Brands during the first quarter worth about $92,000. Voya Investment Management LLC increased its position in Rocky Brands by 46.2% during the first quarter. Voya Investment Management LLC now owns 14,801 shares of the textile maker’s stock worth $257,000 after buying an additional 4,676 shares during the last quarter. Yarger Wealth Strategies LLC increased its position in Rocky Brands by 9.8% during the second quarter. Yarger Wealth Strategies LLC now owns 12,917 shares of the textile maker’s stock worth $287,000 after buying an additional 1,150 shares during the last quarter. Finally, Waterfront Wealth Inc. raised its stake in Rocky Brands by 73.9% in the second quarter. Waterfront Wealth Inc. now owns 32,646 shares of the textile maker’s stock valued at $724,000 after buying an additional 13,873 shares during the period. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Company Profile

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.