Zacks Investment Research upgraded shares of Rocky Brands, Inc. (NASDAQ:RCKY) from a hold rating to a buy rating in a research report sent to investors on Friday. Zacks Investment Research currently has $16.00 price objective on the textile maker’s stock.
According to Zacks, “Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky Outdoor Gear, Georgia Boot, Durango, Lehigh, and the licensed brand, Dickies. “
RCKY has been the subject of several other research reports. TheStreet raised shares of Rocky Brands from a c rating to a b- rating in a research report on Tuesday, July 25th. B. Riley reissued a neutral rating and set a $13.00 price target on shares of Rocky Brands in a research report on Monday, April 24th.
Shares of Rocky Brands (NASDAQ RCKY) traded down 2.14% during trading on Friday, reaching $13.75. 15,250 shares of the company were exchanged. Rocky Brands has a one year low of $9.95 and a one year high of $15.70. The stock has a 50-day moving average price of $13.20 and a 200-day moving average price of $12.54. The stock has a market capitalization of $102.31 million, a PE ratio of 37.06 and a beta of 0.56.
Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Tuesday, July 25th. The textile maker reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.18. The business had revenue of $58.46 million during the quarter, compared to analysts’ expectations of $61.70 million. Rocky Brands had a net margin of 1.06% and a return on equity of 4.03%. Analysts forecast that Rocky Brands will post $0.90 EPS for the current year.
In related news, Director Robert Burton Jr. Moore bought 5,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was purchased at an average cost of $13.65 per share, with a total value of $68,250.00. Following the transaction, the director now owns 8,099 shares in the company, valued at approximately $110,551.35. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.50% of the company’s stock.
Several large investors have recently bought and sold shares of RCKY. Marquette Asset Management Inc. boosted its stake in Rocky Brands by 9.5% in the second quarter. Marquette Asset Management Inc. now owns 16,555 shares of the textile maker’s stock valued at $223,000 after buying an additional 1,434 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Rocky Brands by 14.4% in the first quarter. Wedge Capital Management L L P NC now owns 18,325 shares of the textile maker’s stock valued at $212,000 after buying an additional 2,300 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Rocky Brands by 0.8% in the first quarter. Wells Fargo & Company MN now owns 355,164 shares of the textile maker’s stock valued at $4,102,000 after buying an additional 2,991 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Rocky Brands by 3.6% in the fourth quarter. Renaissance Technologies LLC now owns 135,900 shares of the textile maker’s stock valued at $1,570,000 after buying an additional 4,700 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its stake in Rocky Brands by 1.6% in the second quarter. North Star Investment Management Corp. now owns 316,524 shares of the textile maker’s stock valued at $4,257,000 after buying an additional 5,000 shares in the last quarter. 52.12% of the stock is owned by hedge funds and other institutional investors.
Rocky Brands Company Profile
Rocky Brands, Inc is a designer, manufacturer and marketer of footwear and apparel marketed under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military.
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