Rocky Brands (NASDAQ:RCKY) Given a $30.00 Price Target by Robert W. Baird Analysts

Key Points

• Robert W. Baird raised the price target for Rocky Brands (NASDAQ:RCKY) from $20.00 to $30.00, indicating a potential upside of 3.20% from its previous close.
• The stock of Rocky Brands saw a notable increase of 26.5%, trading up to $29.07 during Wednesday's trading session.
• Institutional investors have increased their stakes in Rocky Brands significantly, with GAMMA Investing LLC boosting its stake by 20,076.9% in the first quarter.

Rocky Brands (NASDAQ:RCKY - Get Free Report) has been assigned a $30.00 target price by Robert W. Baird in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage presently has a "neutral" rating on the textile maker's stock. Robert W. Baird's price objective suggests a potential upside of 19.62% from the company's current price.

Separately, Wall Street Zen cut shares of Rocky Brands from a "buy" rating to a "hold" rating in a research report on Monday, May 12th.

Rocky Brands Trading Down 4.1%

Shares of RCKY stock opened at $25.08 on Wednesday. The company has a market cap of $187.10 million, a P/E ratio of 10.11 and a beta of 2.35. The stock has a 50 day simple moving average of $23.00 and a two-hundred day simple moving average of $20.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.85 and a current ratio of 2.64. Rocky Brands has a fifty-two week low of $11.93 and a fifty-two week high of $33.04.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last issued its earnings results on Tuesday, July 29th. The textile maker reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.31. The business had revenue of $105.65 million during the quarter, compared to the consensus estimate of $102.54 million. Rocky Brands had a return on equity of 10.49% and a net margin of 4.03%.

Institutional Investors Weigh In On Rocky Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of Rocky Brands by 31.2% during the fourth quarter. Wells Fargo & Company MN now owns 4,236 shares of the textile maker's stock valued at $97,000 after acquiring an additional 1,007 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Rocky Brands by 20,076.9% during the first quarter. GAMMA Investing LLC now owns 5,246 shares of the textile maker's stock valued at $91,000 after acquiring an additional 5,220 shares in the last quarter. Strs Ohio bought a new stake in shares of Rocky Brands during the first quarter valued at approximately $92,000. Bank of America Corp DE increased its holdings in shares of Rocky Brands by 51.8% during the fourth quarter. Bank of America Corp DE now owns 8,863 shares of the textile maker's stock valued at $202,000 after acquiring an additional 3,025 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Rocky Brands by 43.9% during the fourth quarter. Voya Investment Management LLC now owns 10,125 shares of the textile maker's stock valued at $231,000 after acquiring an additional 3,091 shares in the last quarter. Institutional investors own 75.06% of the company's stock.

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.