Rocky Brands (NASDAQ:RCKY) Upgraded by StockNews.com to Buy

Rocky Brands (NASDAQ:RCKY - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Wednesday.

Separately, B. Riley increased their price objective on Rocky Brands from $19.00 to $24.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 27th.

Rocky Brands Price Performance

RCKY stock traded up $0.45 during trading hours on Wednesday, hitting $26.61. 13,453 shares of the stock traded hands, compared to its average volume of 28,325. The stock has a 50-day simple moving average of $27.19 and a 200 day simple moving average of $25.00. Rocky Brands has a one year low of $11.77 and a one year high of $32.38. The company has a market cap of $197.45 million, a P/E ratio of 18.74 and a beta of 1.97. The company has a current ratio of 3.61, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last announced its earnings results on Wednesday, February 28th. The textile maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.89 by $0.09. Rocky Brands had a return on equity of 6.70% and a net margin of 2.26%. The business had revenue of $125.95 million during the quarter, compared to the consensus estimate of $128.90 million. Equities analysts forecast that Rocky Brands will post 1.96 earnings per share for the current year.

Institutional Investors Weigh In On Rocky Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in RCKY. FMR LLC raised its stake in shares of Rocky Brands by 15.7% during the 1st quarter. FMR LLC now owns 1,047,631 shares of the textile maker's stock worth $24,169,000 after purchasing an additional 141,969 shares in the last quarter. Portolan Capital Management LLC purchased a new stake in shares of Rocky Brands during the 1st quarter worth about $1,499,000. Manatuck Hill Partners LLC acquired a new position in shares of Rocky Brands during the 3rd quarter valued at about $588,000. BlackRock Inc. increased its holdings in shares of Rocky Brands by 6.2% during the 2nd quarter. BlackRock Inc. now owns 463,717 shares of the textile maker's stock valued at $9,738,000 after acquiring an additional 26,884 shares during the last quarter. Finally, Select Equity Group L.P. increased its holdings in shares of Rocky Brands by 51.4% during the 4th quarter. Select Equity Group L.P. now owns 63,176 shares of the textile maker's stock valued at $1,492,000 after acquiring an additional 21,445 shares during the last quarter. 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.

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