Rocky Brands (NASDAQ:RCKY) Rating Increased to Buy at StockNews.com

Rocky Brands (NASDAQ:RCKY) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Separately, Robert W. Baird cut their price target on 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 Stock Down 1.8 %

Shares of NASDAQ:RCKY opened at $25.04 on Friday. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62. Rocky Brands has a fifty-two week low of $19.65 and a fifty-two week high of $40.14. The stock has a market cap of $186.55 million, a price-to-earnings ratio of 14.07 and a beta of 2.10. The firm’s 50 day moving average price is $23.20 and its 200 day moving average price is $26.92.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.22). The firm had revenue of $114.55 million during the quarter. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%.

Institutional Trading of Rocky Brands

Several institutional investors have recently modified their holdings of the stock. Marshall Wace LLP raised its stake in Rocky Brands by 21.0% during the 2nd quarter. Marshall Wace LLP now owns 29,355 shares of the textile maker’s stock worth $1,085,000 after acquiring an additional 5,086 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Rocky Brands during the second quarter worth about $517,000. Inspire Advisors LLC acquired a new stake in shares of Rocky Brands during the third quarter worth about $339,000. Summit Global Investments purchased a new stake in shares of Rocky Brands in the 3rd quarter valued at about $341,000. Finally, Empowered Funds LLC boosted its position in shares of Rocky Brands by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 30,994 shares of the textile maker’s stock valued at $987,000 after purchasing an additional 1,474 shares during the period. 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.