Rocky Brands, Inc. (NASDAQ:RCKY) issued its quarterly earnings data on Tuesday, July 25th. The textile maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.02 by $0.18, Morningstar.com reports. The company 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%.
Shares of Rocky Brands (NASDAQ RCKY) traded up 1.08% during midday trading on Friday, reaching $14.05. 34,466 shares of the company’s stock traded hands. Rocky Brands has a one year low of $9.95 and a one year high of $15.70. The stock’s 50-day moving average price is $13.20 and its 200 day moving average price is $12.59. The firm has a market capitalization of $104.55 million, a PE ratio of 37.87 and a beta of 0.56.
Several equities analysts recently commented on RCKY shares. Zacks Investment Research raised shares of Rocky Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 19th. TheStreet raised shares of Rocky Brands from a “c” rating to a “b-” rating in a research note on Tuesday, July 25th. B. Riley reiterated a “neutral” rating and set a $12.00 target price on shares of Rocky Brands in a research report on Wednesday, April 19th. Finally, ValuEngine upgraded shares of Rocky Brands from a “hold” rating to a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.33.
In related news, Director Robert Burton Jr. Moore acquired 5,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was acquired at an average cost of $13.65 per share, with a total value of $68,250.00. Following the acquisition, the director now directly owns 8,099 shares in the company, valued at approximately $110,551.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.50% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Two Sigma Securities LLC bought a new stake in shares of Rocky Brands during the first quarter worth about $122,000. Marquette Asset Management Inc. bought a new stake in shares of Rocky Brands during the first quarter worth about $175,000. Wedge Capital Management L L P NC raised its stake in shares of 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 worth $212,000 after buying an additional 2,300 shares during the period. ClariVest Asset Management LLC bought a new stake in shares of Rocky Brands during the second quarter worth about $355,000. Finally, ICM Asset Management Inc. WA raised its stake in shares of Rocky Brands by 68.3% in the fourth quarter. ICM Asset Management Inc. WA now owns 42,505 shares of the textile maker’s stock worth $491,000 after buying an additional 17,247 shares during the period. 52.12% of the stock is owned by institutional investors and hedge funds.
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About Rocky Brands
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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