Rocky Brands (NASDAQ:RCKY) Stock Rating Lowered by StockNews.com

Rocky Brands (NASDAQ:RCKY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Robert W. Baird reduced their price target on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st.

Rocky Brands Price Performance

Rocky Brands stock opened at $23.50 on Friday. The company’s 50 day simple moving average is $23.44 and its 200-day simple moving average is $26.45. The company has a market capitalization of $175.08 million, a price-to-earnings ratio of 13.20 and a beta of 2.10. Rocky Brands has a 1 year low of $19.65 and a 1 year high of $40.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 2.79.

Institutional Investors Weigh In On Rocky Brands

Large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new stake in Rocky Brands during the 3rd quarter worth approximately $224,000. JPMorgan Chase & Co. increased its position in shares of Rocky Brands by 133.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,182 shares of the textile maker’s stock valued at $261,000 after purchasing an additional 4,683 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Rocky Brands by 9.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 9,228 shares of the textile maker’s stock valued at $210,000 after purchasing an additional 820 shares during the last quarter. Barclays PLC increased its position in shares of Rocky Brands by 292.3% in the 3rd quarter. Barclays PLC now owns 9,757 shares of the textile maker’s stock valued at $311,000 after purchasing an additional 7,270 shares during the last quarter. Finally, Inspire Advisors LLC purchased a new stake in shares of Rocky Brands in the 3rd quarter valued at approximately $339,000. 75.06% of the stock is owned by hedge funds and other institutional investors.

Rocky Brands Company Profile

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.