Rocky Brands (NASDAQ:RCKY) Stock Rating Lowered by Wall Street Zen

Key Points

• Rocky Brands was downgraded from buy to hold by Wall Street Zen, and Weiss Ratings also cut the stock to a hold-equivalent rating earlier in the week.
• The stock currently has a consensus Hold rating from analysts, with an average target price of $42.00, while shares recently opened at $37.38.
• In its latest quarterly report, Rocky Brands posted EPS of $0.24, missing estimates, but revenue of $124.4 million came in slightly above expectations.

Rocky Brands (NASDAQ:RCKY - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings cut shares of Rocky Brands from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $42.00.

Rocky Brands Stock Performance

Shares of RCKY stock opened at $37.38 on Friday. The company has a quick ratio of 0.93, a current ratio of 2.82 and a debt-to-equity ratio of 0.45. Rocky Brands has a 52 week low of $19.82 and a 52 week high of $48.70. The stock has a market capitalization of $281.85 million, a PE ratio of 15.13 and a beta of 2.39. The firm has a 50 day moving average of $41.60 and a two-hundred day moving average of $34.61.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The textile maker reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). Rocky Brands had a net margin of 3.78% and a return on equity of 8.49%. The business had revenue of $124.40 million during the quarter, compared to analysts' expectations of $122.42 million.

Institutional Investors Weigh In On Rocky Brands

Institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in shares of Rocky Brands during the 4th quarter worth $35,000. Strs Ohio purchased a new stake in shares of Rocky Brands during the 1st quarter worth $92,000. BNP Paribas Financial Markets lifted its position in shares of Rocky Brands by 391.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker's stock worth $109,000 after purchasing an additional 2,903 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Rocky Brands during the 1st quarter worth $149,000. Finally, Deutsche Bank AG raised its stake in Rocky Brands by 10.0% during the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker's stock worth $150,000 after acquiring an additional 464 shares in the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

About Rocky Brands

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.