StockNews.com Downgrades Rocky Brands (NASDAQ:RCKY) to Hold

Rocky Brands (NASDAQ:RCKY - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Monday.

Separately, Robert W. Baird upped their target price on Rocky Brands from $16.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th.

Rocky Brands Stock Up 4.6%

Shares of RCKY traded up $0.94 during mid-day trading on Monday, reaching $21.36. 79,372 shares of the stock traded hands, compared to its average volume of 51,826. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $16.61 and a 200 day simple moving average of $20.67. The firm has a market cap of $159.37 million, a price-to-earnings ratio of 12.00 and a beta of 2.36. Rocky Brands has a 12-month low of $11.93 and a 12-month high of $40.14.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.21. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%. The business had revenue of $114.07 million during the quarter, compared to the consensus estimate of $112.67 million.

Institutional Trading of Rocky Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Rocky Brands in the first quarter valued at about $345,000. Koss Olinger Consulting LLC acquired a new stake in Rocky Brands in the first quarter valued at $476,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Rocky Brands by 8.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 21,138 shares of the textile maker's stock worth $367,000 after acquiring an additional 1,563 shares during the period. GSA Capital Partners LLP acquired a new position in Rocky Brands in the first quarter valued at approximately $606,000. Finally, Diamond Hill Capital Management Inc. lifted its stake in Rocky Brands by 19.8% in the first quarter. Diamond Hill Capital Management Inc. now owns 136,554 shares of the textile maker's stock valued at $2,372,000 after buying an additional 22,596 shares during the period. 75.06% of the stock is owned by institutional investors.

About Rocky Brands

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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