Rocky Brands (NASDAQ:RCKY) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Rocky Brands to “buy” from “hold,” while the broader analyst consensus remains “hold” with an average price target of $56.
• Rocky Brands reported a strong quarterly performance, posting EPS of $1.90 versus the $0.35 consensus estimate and revenue of $118.37 million, ahead of estimates of $110.08 million.
• The stock opened at $48.84 and has risen substantially from its 52-week low of $24.67; institutional investors own approximately 75.06% of outstanding shares.

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

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird raised their price target on shares of Rocky Brands from $53.00 to $56.00 and gave the stock an "outperform" rating in a research note on Wednesday. Weiss Ratings reissued a "hold (c+)" rating on shares of Rocky Brands in a research report on Tuesday, May 26th. Finally, BTIG Research restated a "neutral" rating on shares of Rocky Brands in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $56.00.

Rocky Brands Stock Down 0.2%

RCKY stock opened at $48.84 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.90 and a quick ratio of 1.02. The stock has a market capitalization of $368.25 million, a P/E ratio of 12.79 and a beta of 2.37. The business has a 50-day moving average of $40.41 and a 200-day moving average of $38.70. Rocky Brands has a fifty-two week low of $24.67 and a fifty-two week high of $50.73.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last announced its earnings results 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. The business had revenue of $118.37 million for the quarter, compared to analyst estimates of $110.08 million. Rocky Brands had a return on equity of 12.44% and a net margin of 5.72%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RCKY. State of Alaska Department of Revenue bought a new position in shares of Rocky Brands in the fourth quarter valued at $35,000. BNP Paribas Financial Markets lifted its stake in Rocky Brands by 391.2% in the third quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker's stock valued at $109,000 after acquiring an additional 2,903 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Rocky Brands in the 1st quarter valued at about $149,000. Deutsche Bank AG grew its position in shares of Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker's stock valued at $150,000 after acquiring an additional 464 shares during the period. Finally, Strs Ohio bought a new position in shares of Rocky Brands in the 1st quarter valued at about $92,000. Institutional investors and hedge funds 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.

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