Rocky Brands (NASDAQ:RCKY) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Rocky Brands from “buy” to “strong-buy.” Other analysts remain generally positive, with a consensus “Moderate Buy” rating and a $56 target price.
• Rocky Brands reported quarterly EPS of $1.90, beating the $0.35 consensus estimate, while revenue of $118.37 million exceeded expectations of $110.08 million.
• The stock opened at $49.23, down 1.0%, after trading between $25.76 and $53.01 over the past year. Institutional investors own 75.06% of the company, while insiders have sold about $763,214 in shares over the past 90 days.

Rocky Brands (NASDAQ:RCKY - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Sunday.

Other equities research analysts have also recently issued reports about the company. BTIG Research reiterated a "neutral" rating on shares of Rocky Brands in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Rocky Brands from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday. Finally, Robert W. Baird boosted their price objective on shares of Rocky Brands from $53.00 to $56.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.00.

Rocky Brands Trading Down 1.0%

NASDAQ:RCKY opened at $49.23 on Friday. The company has a market cap of $368.73 million, a P/E ratio of 12.89 and a beta of 2.36. The stock's fifty day moving average price is $41.65 and its two-hundred day moving average price is $39.33. Rocky Brands has a 1 year low of $25.76 and a 1 year high of $53.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.97 and a quick ratio of 1.02.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $1.55. Rocky Brands had a return on equity of 12.28% and a net margin of 5.72%.The company had revenue of $118.37 million for the quarter, compared to analyst estimates of $110.08 million.

Insiders Place Their Bets

In other Rocky Brands news, Director G Courtney Haning sold 3,000 shares of the firm's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $49.06, for a total value of $147,180.00. Following the sale, the director owned 19,750 shares of the company's stock, valued at $968,935. This trade represents a 13.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tracie A. Winbigler sold 3,000 shares of the business's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $47.45, for a total value of $142,350.00. Following the transaction, the director directly owned 14,246 shares of the company's stock, valued at $675,972.70. The trade was a 17.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,483 shares of company stock valued at $763,214 over the last 90 days. 7.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocky Brands

A number of institutional investors have recently made changes to their positions in RCKY. BlackRock Inc. purchased a new position in shares of Rocky Brands during the second quarter worth approximately $21,559,000. Raymond James Financial Inc. raised its stake in shares of Rocky Brands by 24.3% during the second quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker's stock valued at $12,371,000 after acquiring an additional 109,012 shares during the last quarter. LSV Asset Management lifted its holdings in Rocky Brands by 160.1% in the 4th quarter. LSV Asset Management now owns 146,365 shares of the textile maker's stock worth $4,293,000 after buying an additional 90,103 shares during the period. Aristides Capital LLC lifted its stake in Rocky Brands by 264.6% in the first quarter. Aristides Capital LLC now owns 112,744 shares of the textile maker's stock worth $4,365,000 after acquiring an additional 81,822 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Rocky Brands in the 2nd quarter worth about $2,856,000. Institutional investors own 75.06% of the company's stock.

Rocky Brands Company Profile

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source