Rocky Brands (NASDAQ:RCKY - Get Free Report) was upgraded by equities researchers at Robert W. Baird from a "neutral" rating to an "outperform" rating in a report issued on Tuesday,Finviz reports. The firm presently has a $40.00 price objective on the textile maker's stock. Robert W. Baird's price target would indicate a potential upside of 45.99% 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 note on Monday, May 12th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $40.00.
Check Out Our Latest Stock Report on RCKY
Rocky Brands Stock Performance
Shares of RCKY stock opened at $27.40 on Tuesday. The stock has a market capitalization of $204.68 million, a P/E ratio of 11.05 and a beta of 2.35. The company has a current ratio of 2.76, a quick ratio of 0.79 and a debt-to-equity ratio of 0.52. The firm's 50 day moving average is $24.35 and its 200 day moving average is $20.96. Rocky Brands has a 12 month low of $11.93 and a 12 month high of $33.04.
Rocky Brands (NASDAQ:RCKY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The textile maker reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.31. The company had revenue of $105.65 million for the quarter, compared to analysts' expectations of $102.54 million. Rocky Brands had a net margin of 4.03% and a return on equity of 10.41%.
Hedge Funds Weigh In On Rocky Brands
A number of institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. increased its holdings in shares of Rocky Brands by 24.3% in the 2nd quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker's stock worth $12,371,000 after buying an additional 109,012 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Rocky Brands by 5.1% in the 2nd quarter. American Century Companies Inc. now owns 247,352 shares of the textile maker's stock worth $5,489,000 after buying an additional 11,941 shares during the last quarter. North Star Investment Management Corp. increased its holdings in shares of Rocky Brands by 1.9% in the 1st quarter. North Star Investment Management Corp. now owns 218,625 shares of the textile maker's stock worth $3,798,000 after buying an additional 4,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Rocky Brands by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker's stock worth $3,782,000 after buying an additional 1,303 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of Rocky Brands by 19.8% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 136,554 shares of the textile maker's stock worth $2,372,000 after buying an additional 22,596 shares during the last quarter. Institutional investors own 75.06% of the company's stock.
Rocky Brands Company Profile
(
Get Free Report)
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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